PowerBar Owners Brian and Jennifer Maxwell "were over
the weekend wrapping up a deal to be gobbled up by Nestle
USA," in an acquisition announced yesterday, according to
George Lazarus of the CHICAGO TRIBUNE. The purchase by
Nestle follows Kraft Foods' $268M "recent acquisition" of
Balance Bar, but observers say that Nestle's PowerBar buyout
"substantially" exceeds that figure. Brian Maxwell, who has
been PowerBar CEO, and his wife Jennifer, who has been Dir
of Nutrition, "will continue on key management roles."
Meanwhile, PowerBar has a "unique promotional weapon on its
side" in NASCAR driver Dale Jarrett. Distribution of a
"special commemorative PowerBar" around Jarrett, who "wolfed
down two vanilla crisp PowerBars two hours before" winning
his third Daytona 500 Sunday, begins in May. The wrapper
will feature Jarrett's face and No. 88, as well as a
checkered flag (CHICAGO TRIBUNE, 2/24). AD AGE reports that
"no plans have been laid yet to change" PowerBar's 2000
marketing plans, which include a $30M TV, print and radio
campaign via Wieden & Kennedy, OR, that continues the
brand's "Don't bonk" tag (AD AGE, 2/24).
