Sports nutrition operator CytoSport, the company behind brands such as Muscle Milk and CytoMax, is considering an initial public offering (IPO) in Q4 2013, according to a Reuters report that cites unnamed sources close to the matter.
Based in Benicia, California, CytoSport is backed by private equity firm TSG Partners. It has reportedly hired Credit Suisse AG to lead the potential IPO.
Founded in 1998 by father-and-son duo Greg and Mike Pickett, CytoSport sells a range of protein-enhanced powders, shakes and bars. In the endurance sport area, its Muscle Milk brand was endorsed by Ironman World Champion Chrissie Wellington. Other sponsored athletes include US triathlete Matt ‘Boom Boom’ Reed and long distance runner Ryan Hall.
In March this year, CytoSport entered into a two-year agreement to be a participating sponsor and the official protein recovery drink of XTERRA, the US nation’s premier off-road triathlon and trail running series.
Reuters reports that, in 2010, CytoSport initiated a sales process that failed to yield a buyer. However, it notes that ‘CytoSport is pursuing an IPO in a robust market for consumer-related floats, particularly involving companies with ties to the fast-growing health food industry.’
www.cytosport.com
www.musclemilk.com
