Post Holdings, a leading consumer packaged goods holding company, has announced a definitive agreement to acquire 8th Avenue, a diversified food manufacturer. Under the agreement, Post will eliminate 8th Avenue’s outstanding net debt and acquire all equity interests for a net payment of approximately $880 million. 8th Avenue specializes in branded and private label dry pasta, nut butters, granola, and fruit & nut products. Post-acquisition, Post Holdings will internalize the …
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Post Holdings
US breakfast cereal maker Post Holdings has announced the closure of two if its Post Consumer Brands cereal manufacturing facilities in Cobourg, Canada and Sparks, in the US state of Nevada. The closures are required to reduce capacity in its cereal production network, the company said, noting approximately 300 employees will be affected. “The ready-to-eat cereal category continues to decline”, said Nicolas Catoggio, president and CEO of Post Consumer Brands. “To respond to …
Breakfast cereal maker Post Holdings has announced plans to close a manufacturing facility located in Lancaster, in the US state of Ohio to reduce capacity in its manufacturing network. The Lancaster plant was acquired by Post Holdings in June 2021 as part of the company’s wider acquisition of TreeHouse Foods’ breakfast cereal business. The decision will affect around 200 employees, with production to other the company’s other manufacturing sites. Commenting …
US-based food and beverage company JM Smucker has announced the closing of a transaction to sell several pet food brands to Post Holdings for approximately $1.2 billion. The acquisition, which was announced in February, includes brands such Rachael Ray Nutrish, 9Lives, Kibbles ‘n Bits, Nature’s Recipe and Gravy Train, a private label pet food business, and several manufacturing and distributing facilities. “With the close of this transaction, we are excited to …
UK-based Post Holdings, Weetabix breakfast cereal maker, has acquired UFit protein shakes brand owner Lacka Foods. Founded in 2012, Lacka Foods manufactures high-protein and high-fibre shakes fortified with vitamins and minerals that also include a range of vegan, plant-based options made with pea protein and coconut milk. According to sources, the company will operate independently after the transaction and no changes will be made to the management team. Weetabix said …
North American leading manufacturer and distributor of private label packaged foods and beverages TreeHouse Foods, has simultaneously signed a definitive agreement and completed the sale of its ready-to-eat cereal business to Post Holdings for $85 million. The acquisition includes two manufacturing facilities located in Lancaster, Ohio and Sparks, Nevada and a research and development facility in Sauget, Illinois. “This transaction is another important step in our strategic journey to create …
8th Avenue Foods & Provisions, an affiliate of Post Holdings, has entered into an agreement to acquire Ronzoni dry pasta from Riviana Foods, a subsidiary of Ebro Foods for $95 million. The divestment comes after Riviana Foods sold a majority stake in its USA branded pasta portfolio to TreeHouse Foods and Ebro Foods sold Catelli dry pasta to Barilla in Canada. Scott McNair, CEO of 8th Avenue said, “We are …
Weetabix, the largest cereal company in the UK, is to be sold to Post Holdings, the third biggest player in the US cereal market, for $1.8 billion (£1.4 billion), according to reports in the BBC and the Independent. Chinese outfit Bright Food has been the majority owner of Weetabix since 2012, when the company bought a 60% stake in the cereal maker. However, the brand has reportedly unable to make …
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