Post Holdings, Inc. announced it has signed a definitive agreement to acquire 8th Avenue Food & Provisions, Inc. Post says it will extinguish the outstanding net debt of 8th Avenue and acquire all equity interests for a net payment of approximately $880 million. 8th Avenue's categories include branded and private label dry pasta and private label nut butters, granola, and fruit & nut.
"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," says Rob Vitale, President and Chief Executive Officer of Post.
The acquisition internalizes the manufacturing of Post's Peter Pan peanut butter, represents Post's entry into the dry pasta category with Ronzoni, and enables greater participation in the growing granola sub-category of ready-to-eat cereal. The acquisition is expected to be completed on July 1, 2025, Post's fourth quarter of fiscal year 2025, subject to closing conditions.
