Post Holdings to Acquire National Pasteurized Eggs
ST. LOUIS, Sept. 01, 2016 (GLOBE NEWSWIRE) — Post Holdings, Inc. (NYSE:POST) (“Post” or the “Company”), a consumer packaged goods holding company, today announced it has agreed to acquire National Pasteurized Eggs, Inc. (“NPE”).
NPE is a producer of pasteurized shell eggs, including all-natural, cage-free and hard boiled eggs. Its patented in-shell pasteurization process allows for commercial-scale production of pasteurized eggs. NPE operates three egg production facilities located in Illinois, Iowa and South Dakota and distributes its products nationwide, serving the foodservice, retail and international channels. Upon completion of the acquisition, NPE will be combined with Post’s existing Michael Foods egg business.
“This transaction continues our effort at building upon Michael Foods’ best-in-class egg foodservice business,” said
Rob Vitale, Post’s President and CEO.
Post anticipates completing the acquisition early in its first quarter of fiscal 2017, subject to customary closing conditions, including the expiration of waiting periods required under antitrust laws. Terms of the transaction were not disclosed.
Lazard Middle Market served as financial advisor to NPE on the transaction.
Certain matters discussed in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on the current expectations of Post and are subject to uncertainty and changes in circumstances. These forward-looking statements include, among others, statements regarding expected benefits of the acquisition, expectations about future business plans, prospective performance and opportunities, regulatory approvals and the expecting timing of the completion of the transaction. These forward-looking statements may be identified by the use of words such as “expect,” “anticipate,” “believe,” “estimate,” “potential,” “should” or similar words. There is no assurance that the acquisition of NPE will be consummated, and there are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. These risks and uncertainties include the timing to consummate the acquisition of NPE; the ability and timing to obtain required regulatory approvals, including antitrust approvals, and satisfy other closing conditions; our ability to promptly and effectively integrate the NPE business; our ability to continue to compete in our product markets and our ability to retain our market position; our ability to manage our growth and integrate acquisitions; changes in our cost structure, management, financing and business operations; significant volatility in the costs of certain raw materials, commodities, packaging or energy used to manufacture our products; our ability to maintain competitive pricing, introduce new products or successfully manage our costs; our ability to successfully implement business strategies to reduce costs; our ability to anticipate and respond to changes in consumer preferences and trends; changes in economic conditions and consumer demand for our products; disruptions in the U.S. and global capital and credit markets; labor strikes, work stoppages or unionization efforts; our ability to satisfy the requirements of Section 404 of the Sarbanes-Oxley Act of 2002, including with respect to acquired businesses; business disruptions caused by information technology failures and/or technology hacking; changes in weather conditions, natural disasters, disease outbreaks and other events beyond our control; and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission. These forward-looking statements represent the Company’s judgment as of the date of this release. Investors are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims, however, any intent or obligation to update these forward-looking statements.
About Post Holdings, Inc.
Post Holdings, Inc., headquartered in St. Louis, Missouri, is a consumer packaged goods holding company operating in the center-of-the-store, foodservice, food ingredient, private label, refrigerated and active nutrition food categories. Through its Post Consumer Brands business, Post is a leader in the ready-to-eat cereal category and offers a broad portfolio that includes recognized brands such as Honey Bunches of Oats®, Pebbles™, Great Grains®, Grape-Nuts®, Honeycomb®, Frosted Mini Spooners®, Golden Puffs®, Cinnamon Toasters®, Fruity Dyno-Bites®, Cocoa Dyno-Bites®, Berry Colossal Crunch® and Malt-O-Meal® hot wheat cereal. Post’s Michael Foods Group supplies value-added egg products, refrigerated potato products, cheese and other dairy case products and dry pasta products to the foodservice, food ingredient and private label retail channels and markets retail brands including All Whites®, Better’n Eggs®, Simply Potatoes® and Crystal Farms®. Post’s active nutrition platform aids consumers in adopting healthier lifestyles through brands such as PowerBar®, Premier Protein® and Dymatize®. Post’s Private Brands Group manufactures private label peanut butter and other nut butters, dried fruits, baking and snacking nuts, cereal and granola. For more information, visit www.postholdings.com.