Post Acquires Dakota Growers Pasta
Post Acquires Dakota Growers Pasta
Post Holdings, Inc. acquires Dakota Growers Pasta Company, Inc. from Viterra, Inc. for $370 million. Dakota Growers Pasta manufactures a full line of dry pastas for retail, food service and food processors, including whole grain and organic items.
Dakota Growers will be managed independently from other Post businesses by its existing management team led by Ed Irion, vice-president and general manager.
The transaction is structured as a stock purchase, in which Post has agreed to purchase all of the outstanding stock of Agricore United Holdings Inc., the parent company of Dakota Growers. When the transaction closes, Post will pay $370 million in cash.
On a full-year basis Post expects Dakota Growers to contribute approximately $300 million to net sales and approximately $42 to $46 million of EBITDA.
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