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By 1986, the couple thought they had perfected the recipe, a mixture of oat bran, maltodextrins, and milk protein sweetened with fructose and fortified with vitamins, minerals, and amino acids.
They used $55,000 in cash to launch the company in 1986 in Berkeley, California.
In 1987, the United States cycling team in the Tour de France asked PowerBar to sponsor it.
However, the Maxwells (they married in 1988) were able to afford their own plant within a few years of the product launch.
By 1989, sales of PowerBars had gone so well that the company was able to afford its own production facility.
In 1994, Gatorade, well known for its sports drink, brought out a Gator Bar.
The Clif Bar almost doubled its sales over 1997, giving it the number three market spot.
PowerBar also brought out some non-bar products. It launched a sports drink in 1999, PowerBar Perform, which came in two bottle sizes.
By 2001, PowerBar was said to have about 40 percent of the energy bar market.
On February 3, 2014, Post Holdings announced it had reached an agreement to acquire PowerBar, Musashi and related worldwide assets from Nestlé. A few years after the transfer to Post, PowerBar regained control of their brand and became a registered trademark of Premier Nutrition Company, LLC.
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| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| A. Schulman | 1928 | $2.5B | 4,900 | - |
| RectorSeal | 1937 | $31.0M | 176 | - |
| H.B. Fuller | 1887 | $3.6B | 6,428 | 92 |
| Carboline | 1947 | $222.4M | 768 | 16 |
| Valspar | 1806 | $4.2B | 11,083 | - |
| DairiConcepts | 2000 | $1.4M | 50 | - |
| INVISTA | 2003 | $115.0B | 10,000 | 10 |
| Conagra Foods | - | $12.1B | 50 | 181 |
| Pharmavite | 1971 | $35.0M | 1,224 | 21 |
| Yupo | 1996 | $57.4M | 145 | 4 |
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