PowerBar
| PowerBar
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|---|---|
 |
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| legal form | Corporation |
| founding | 1986 |
| Seat | Glendale , California |
| sales | approx. 175 million US dollars (estimated, 2013) |
| Branch | Sports nutrition products |
| Website | http://www.powerbar.de/ |
PowerBar, Inc. is an American manufacturer of sports nutrition products, especially energy bars, gels and instant powders for sports drinks. Founded in 1986 in Berkeley , California , the company has been part of the Swiss Nestlé Group since 2000 , and was sold to Post Holdings in 2014 .
history
PowerBar was founded by the Canadian long-distance runner Brian Maxwell (1953-2004). Maxwell, who was nominated for the Canadian Olympic team in 1980 and later worked as an athletics trainer at the University of California, Berkeley , reportedly came up with the idea of making high-carbohydrate bars after going hungry during a marathon and had to give up at kilometer 34. Until the 1980s, there were only chocolate bars such as Mars or Snickers , as well as muesli bars that were primarily intended as a breakfast substitute or snack. From 1983 Maxwell experimented with his future wife Jennifer Biddulph, a nutritionist, in their kitchen to make their own bars that should be both high-energy and easy to digest, so that they could be consumed shortly before and during a competition. The "Power Bar" as the first energy bar for athletes was finally so mature in 1986 that both decided to found a company. Together with Maxwell's student Mike McCollum, they took out a loan of $ 55,000 and founded PowerBar.
The energy bar was initially sold in bike shops, at bike races and running events. When a serious competitor appeared in the newly emerging market with the Clif Bar in 1992 , PowerBar differentiated its range and launched further products with the Harvest Bar , the protein-rich ProteinPlus and the low-calorie Pria Bar aimed at women . In addition, the company signed endorsements of well-known sports personalities, such as NFL quarterback Steve Young and professional cyclist Lance Armstrong , and was thus able to consolidate its market position. In the course of the 1990s the company grew to 300 employees and increased annual sales to 150 million US dollars. In 2000, the founders sold it to Nestlé for an estimated $ 375 million.
In February 2014 it was announced that Nestlé was selling its sports nutrition division with the brands PowerBar and Musashi for a total of 400 million Swiss francs to the American consumer goods holding Post Holdings. The reasons given were a stronger focus on core brands at Nestlé and declining sales of PowerBar products.
Company and product range
PowerBar, Inc. sales in 2013 were estimated at $ 175 million. Today the company is headquartered in Glendale , California.
In addition to energy bars, the PowerBar product range also includes high-carbohydrate gels ("Power Gel"), as well as instant powders for isotonic drinks and various dietary supplements. It is sold through retailers (mainly sports shops ) and online mail order companies.
Web links
- www.powerbar.de (German website of PowerBar)
Individual evidence
- ↑ a b PowerBar founder Maxwell collapses, dies at 51. USA Today (Associated Press), March 20, 2004, accessed February 21, 2014 .
- ^ A b Jeffery Kahn: Leaving it all at the finish line: The remarkable life of Brian Maxwell. University of California, Berkeley, April 2, 2004, accessed February 21, 2014 .
- ↑ a b Cereal maker Post buys PowerBar from Nestle. Bicycle Retailer, February 6, 2014, accessed February 21, 2014 .
- ^ A b David A. Aker: Brand Portfolio Strategy: Creating Relevance, Differentiation, Energy, Leverage and Clarity. Free Press, 2004. pp. 98 f. ISBN 978-0-7432-4938-6
- ^ Nestle sells PowerBar and Musashi to US group Post Holdings. Reuters, February 3, 2014, accessed February 21, 2014 .
- ^ Circles - Nestle is considering selling PowerBar. Reuters, September 27, 2013, accessed February 21, 2014 .