Shearman & Sterling is advising on the acquisition by Hormel Foods of CytoSport Holdings, Inc., maker of "MuscleMilk" protein supplement products and "CytoSport" sports recovery drinks. The firm represented the Pickett family, founders of CytoSport. The $450 million transaction, which is subject to customary closing conditions, including the receipt of regulatory approvals in the United States, is expected to close within 30 days.

Based in Benicia, Calif., CytoSport was founded in 1998 and produces Muscle Milk® products, the No. 1 brand in the ready-to-drink protein beverage category. Total 2014 annual sales are expected to be approximately $370 million. Hormel Foods Corporation, based in Austin, Minn., is a multinational manufacturer and marketer of consumer-branded food and meat products, many of which are among the best known and trusted in the food industry.

The Team