Post Holdings is pushing ahead with its plans to spin off the unit that makes energy-enhancing foods like PowerBar.
Reuters reports that Post submitted a confidential draft registration for an IPO for its Active Nutrition business, comprising PowerBar and other high-protein products. The company had announced its intention to do so in November.
At the time, Post announced that the new company will be headed by Darcy Horn Davenport, currently head of the Active Nutrition division. Davenport is still tabbed to be CEO of the new company, but no stock price or other financial information has yet been revealed, according to Reuters.