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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 manufacturing of Peter Pan peanut butter, mark its entry into the dry pasta market with Ronzoni, and expand its presence in the growing granola segment. The deal is expected to close on 1st July, during Post Holdings’ fourth quarter of fiscal year 2025, pending closing conditions.
Commenting on the deal, Post president and chief executive officer Rob Vitale said: “With this acquisition, we further our strategy of tactical private label positioning alongside leading brands. I am pleased to welcome back the approximately 1,580 employees of 8th Avenue who will join us as Post colleagues”.
Source: Post Holdings
