IMSA: Hormel purchases Pickett's Cytosport brand for $450 million

Championship-winning American Le Mans Series team owner Greg Pickett has completed the sale of his nutritional product brand CytoSport to the Minnesota-based Hormel Foods Corporation, makers of Spam, among other food related items.

CytoSport's most popular product, Muscle Milk, was the key acquisition for Hormel, according to its chairman and CEO.

"Muscle Milk products will serve as a growth catalyst for our Specialty Foods segment, providing this division with a leading brand in the high-growth sports nutrition category," said Hormel Foods' Jeffrey M. Ettinger. "The acquisition of CytoSport expands our offerings of portable, immediate, protein-rich foods, and broadens our appeal with younger consumers. Muscle Milk premium protein products further enhance our balanced business model."

Hormel placed the purchase price at $450m.

Pickett's Cyto-themed products, including CytoMax, first appeared during his tenure as a driver in the SCCA Trans-Am series (below), expanding to promotions of CytoSport and Muscle Milk in recent years.

Following Muscle Milk Pickett Racing's 2013 ALMS P1 title, the team transitioned into the new TUDOR United SportsCar Championship with an ORECA 03-Nissan P2 entry, but withdrew from the series and shuttered the team in May. Focusing on the sale of CytoSport was one the numerous reasons cited for MMPR's closure. ​