USA: Post Holdings to sell pasta business to Richardson

US breakfast cereal maker Post Holdings has announced that has entered into a definitive agreement to sell the pasta business of 8th Avenue Food & Provisions to the US arm of Canadian agrifood business  Richardson.

Richardson will pay $375 million in cash for the business and also assume $80 million in leaseback financial liabilities. The transaction includes three manufacturing facilities located in North Dakota, Minnesota and Virginia, with around 500 employees from 8th Avenue joining Richardson after the sale.

Founded in 2018, 8th Avenue is a manufacturer and marketer of private brand products focusing on the retail, foodservice and ingredients.

Post Holdings acquired 8th Avenue in July and will retain the remainder of the business as part of its portfolio, including nut butters, fruit and nut products and granola.

The transaction is expected to close in Post’s first fiscal quarter of 2026, subject to customary closing conditions.

Source: Post Holdings