DT - Date 200003. Nestle gave no financial details of the transaction, which it said was subject to regulatory approval and would be paid for in part with Nestle shares. The deal also covers Power Bar's Canadian and German subsidiaries. Brian Maxwell, the founder, chief executive officer and president of Power Bar, will stay on the management team after the acquisition, according to a company statement. Mr Maxwell is a Canadian former Olympic marathon runner who founded PowerBar with chemist and runner Jennifer Biddulph in 1986.
Net profits rise strongly.