Post Holdings has agreed to sell its pasta business of 8th Avenue Food & Provisions to Richardson International for $375m in cash and around $80m in leaseback obligations. The deal includes three production sites and the Ronzoni pasta brand, with 500 employees transferring to Richardson. Post Holdings will retain nut butters, fruit and nut products, and granola businesses. Richardson International sees the acquisition as a way to enhance its North American durum origination and milling capabilities by expanding into the production of pasta products. Post Holdings projects the retained businesses will generate an adjusted EBITDA contribution of $45-50m in fiscal year 2026, with cost synergies expected to reach $15m annually by the end of that year. Post Holdings adjusted its fiscal year 2025 guidance for adjusted EBITDA upwards to a range of $1.5bn–$1.52bn, reflecting a partial-year contribution from 8th Avenue. In the third fiscal quarter ending 30 June, Post Holdings reported a 1.9% increase in net sales, a 15.5% rise in operating profit, and a 9% increase in net earnings, with diluted earnings per share increasing to $1.79.

Read more at Yahoo Finance: Post Holdings sells 8th Avenue pasta business to Richardson International