Nestle to Purchase Power Bar

GLENDALE, Calif.--Nestle USA Inc. has signed a definitive agreement to purchase Berkeley, Calif.-based PowerBar Inc. The agreement is subject to regulatory approval.

PowerBar has a line of energy bars, nutrition bars, protein bars, an energy gel and a sports drink. Nestle's acquisition will provide the company with the resources necessary to increase its global reach.

The acquisition will also be important because as a major international player, Nestle is demonstrating its confidence in the growing health and nutrition market. Nestle USA's parent company, Nestle SA, is based in Switzerland.