![Diet Muscle Milk Fuels NY Fashion Week- Day 3 Hormel Acquires Muscle Milk](https://api.time.com/wp-content/uploads/2014/07/hormel-acquires-muscle-milk-maker.jpg?quality=85&w=2400)
![](https://api.time.com/wp-content/uploads/2014/03/fortunelogo-blue1.png?w=2400&quality=75)
This post is in partnership with Fortune, which offers the latest business and finance news. Read the article below originally published at Fortune.com.
Hormel Foods has agreed to pay about $450 million to acquire sports-nutrition maker CytoSport, a deal meant to broaden the company’s reach to younger consumers.
The deal to acquire CytoSport, which makes Muscle Milk products, is expected to close within 30 days. CytoSport’s 2014 annual sales are expected to total about $370 million. Hormel HRL 0.61% expects the deal will add about five cents a share to earnings in fiscal 2015, with a neutral impact on fiscal 2014 results.
CytoSport first formed in 1998 by Greg and Michael Pickett, a father and son team that aimed to compete in the sports nutrition category. The company’s first protein products hit the market in 1999, though the Muscle Milk powder — which is the company’s most popular product — was released in 2000. CytoSport has also expanded abroad in recent years, in Canada and the United Kingdom.
More Must-Reads from TIME
- Biden Drops Out of Presidential Race , Endorses Harris to Replace Him
- Why Biden Dropped Out
- The Chaos and Commotion of the RNC in Photos
- Why We All Have a Stake in Twisters’ Success
- 8 Eating Habits That Actually Improve Your Sleep
- Stop Feeling Bad About Sweating
- Welcome to the Noah Lyles Olympics
- Get Our Paris Olympics Newsletter in Your Inbox
Contact us at letters@time.com