Post Holdings to Acquire Almark Foods

Rhea-AI Summary

Post Holdings, Inc. (NYSE: POST) has agreed to acquire Almark Foods, a leading provider of hard-cooked and deviled egg products. This acquisition aims to enhance Post's existing Michael Foods egg business, expanding its portfolio in the refrigerated retail segment. Almark's products are widely distributed across retail and foodservice channels. The financial terms have not been disclosed, and the acquisition is expected to complete in Q1 2021, pending customary closing conditions. There are inherent risks related to the completion of this transaction.

Positive

• Expansion of Post's product portfolio through acquisition of a leading egg product provider.
• Expected synergies with Post's existing Michael Foods egg business.
• Broader distribution channels in both retail and foodservice sectors.

Negative

• Undisclosed financial terms may imply uncertainty regarding the transaction's impact.
• Risks associated with the completion timeline and satisfying closing conditions.

ST. LOUIS, Dec. 14, 2020 (GLOBE NEWSWIRE) -- Post Holdings, Inc. (NYSE:POST), a consumer packaged goods holding company, today announced that it has agreed to acquire Almark Foods (“Almark”).

Almark is a leading provider of hard-cooked and deviled egg products, offering conventional, organic and cage-free products. Its products are distributed broadly across retail outlets, including in the perimeter-of-the-store and the deli counter, as well as to foodservice distributors. Almark operates a hard-cooked egg facility in Yuma, Arizona. Upon completion of the acquisition, Almark will be combined with Post’s existing Michael Foods egg business. The financial results of Almark are expected to be split between Post’s Foodservice and Refrigerated Retail segments.

Final terms of the transaction were not disclosed. The transaction is expected to be completed in the first calendar quarter of 2021 (Post’s second fiscal quarter of 2021), subject to customary closing conditions.

Forward-Looking Statements

Certain matters discussed in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made based on known events and circumstances at the time of release, and as such, are subject to uncertainty and changes in circumstances. These forward-looking statements include statements regarding the expected timing of completion of the transaction. There is no assurance that the acquisition of Almark by Post will be consummated, and there are a number of risks, uncertainties and assumptions that could cause actual results to differ materially from the forward-looking statements made herein, including risks relating to the timing and ability to satisfy the closing conditions for the proposed acquisition, the occurrence of any event, change or other circumstance that could delay the closing of the proposed acquisition, and other risks and uncertainties described in Post’s filings with the Securities and Exchange Commission. These forward-looking statements represent Post’s judgment as of the date of this release. Post 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, refrigerated, foodservice, food ingredient and convenient nutrition food categories. Through its Post Consumer Brands business, Post is a leader in the North American ready-to-eat cereal category offering a broad portfolio including recognized brands such as Honey Bunches of Oats®, Pebbles™, Great Grains® and Malt-O-Meal® bag cereal. Post also is a leader in the United Kingdom ready-to-eat cereal category with the iconic Weetabix® brand. As a leader in refrigerated foods, Post delivers innovative, value-added egg and refrigerated potato products to the foodservice channel and the retail refrigerated side dish category, offering side dish, egg, cheese and sausage products through the Bob Evans®, Simply Potatoes® and Crystal Farms® brands. Post’s publicly-traded subsidiary BellRing Brands, Inc. is a holding company operating in the global convenient nutrition category through its primary brands of Premier Protein®, Dymatize® and PowerBar®. Post participates in the private brand food category through its investment with third parties in 8th Avenue Food & Provisions, Inc., a leading, private brand centric, consumer products holding company. For more information, visit www.postholdings.com.

Contact:
Investor Relations
Jennifer Meyer
jennifer.meyer@postholdings.com 
(314) 644-7665

Media Relations
Lisa Hanly
lisa.hanly@postholdings.com 
(314) 665-3180

FAQ

What is the purpose of Post Holdings acquiring Almark Foods?

The acquisition aims to enhance Post's existing egg product business and expand its refrigerated product offerings.

When is the expected completion date of the Almark acquisition?

The acquisition is expected to be completed in the first calendar quarter of 2021.

What are the financial implications of the Post Holdings and Almark Foods transaction?

Financial terms have not been disclosed, but integration may yield operational synergies.

How will the acquisition affect Post Holdings' market position?

The acquisition may strengthen Post's presence in the refrigerated foods sector and enhance its product variety.

What risks are associated with the acquisition of Almark Foods by Post?

Risks include uncertainties in closing conditions and potential delays in the acquisition process.