From Yahoo Finance: 2025-06-04 11:25:00

Post Holdings is set to acquire the remaining shares of 8th Avenue Food & Provisions for $880m. 8th Avenue was established in 2018 through a deal with private-equity firm Thomas H. Lee Partners. The manufacturer produces pasta, nut butters, and granola. The acquisition will include $111m in finance leases and eliminate 8th Avenue’s outstanding debt. Post plans to merge its Peter Pan peanut butter production into the acquisition, adding 1,580 employees. The deal is expected to close on July 1, with estimated adjusted EBITDA of $115m in the first year, excluding cost synergies. Post also updated its fiscal year 2025 adjusted EBITDA guidance to $1.46bn to $1.5bn. Post Holdings has adjusted its approach to mergers and acquisitions due to market uncertainties. Additionally, Post closed two cereal manufacturing facilities in response to a declining market for ready-to-eat cereals.



Read more at Yahoo Finance: Post Holdings to take full ownership of 8th Avenue for $880m