Post Holdings to Acquire Potato Products of Idaho

Rhea-AI Summary

Post Holdings (NYSE: POST) has announced an agreement to acquire Potato Products of Idaho (PPI), a manufacturer and packager of refrigerated and frozen potato products. The acquisition includes a manufacturing facility in Rigby, Idaho. While financial terms were not disclosed, the transaction is expected to close in the first calendar quarter of 2025, which corresponds to Post's second quarter of fiscal year 2025, subject to customary closing conditions.

Positive

• Expansion into potato products manufacturing sector
• Addition of manufacturing facility in strategic location
• Vertical integration potential in food processing

Negative

• Undisclosed financial terms create uncertainty for investors
• Integration costs and risks not specified

ST. LOUIS, Dec. 17, 2024 /PRNewswire/ -- Post Holdings, Inc. (NYSE: Post) ("Post"), a consumer packaged goods holding company, announced today it has agreed to acquire Potato Products of Idaho, L.L.C. ("PPI"). Financial details of the transaction were not disclosed.

PPI is a manufacturer and packager of refrigerated and frozen potato products. The acquisition includes a manufacturing facility in Rigby, Idaho. The acquisition is expected to be completed in the first calendar quarter of 2025, Post's second quarter of fiscal year 2025, subject to customary closing conditions.

Forward Looking Statements

Certain matters discussed in this release are forward-looking statements. 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 the anticipated timing of completion of the acquisition. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. These risks and uncertainties include 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 judgement as of the date of this release. Post disclaims, however, any intent or obligation to update these forward-looking statements. All forward-looking statements in this release are qualified in their entirety by this cautionary statement.

About Post Holdings, Inc.

Post Holdings, Inc., headquartered in St. Louis, Missouri, is a consumer packaged goods holding company with businesses operating in the center-of-the-store, refrigerated, foodservice and food ingredient categories. Its businesses include Post Consumer Brands, Weetabix, Michael Foods and Bob Evans Farms. Post Consumer Brands is a leader in the North American ready-to-eat cereal and pet food categories and also markets Peter Pan^® peanut butter. Weetabix is home to the United Kingdom's number one selling ready-to-eat cereal brand, Weetabix^®. Michael Foods and Bob Evans Farms are leaders in refrigerated foods, delivering innovative, value-added egg and refrigerated potato side dish products to the foodservice and retail channels. Post participates in the private brand food category through its ownership interest in 8th Avenue Food & Provisions, Inc. For more information, visit www.postholdings.com.

Contact:
Investor Relations
Daniel O'Rourke
daniel.orourke@postholdings.com
(314) 806-3959

Media Relations
Tara Gray
tara.gray@postholdings.com
(314) 644-7648

View original content to download multimedia:https://www.prnewswire.com/news-releases/post-holdings-to-acquire-potato-products-of-idaho-302333981.html

SOURCE Post Holdings, Inc.

FAQ

When will Post Holdings complete the acquisition of Potato Products of Idaho?

The acquisition is expected to be completed in the first calendar quarter of 2025, which is Post's second quarter of fiscal year 2025.

What assets are included in Post Holdings' acquisition of PPI?

The acquisition includes a manufacturing facility in Rigby, Idaho, along with PPI's refrigerated and frozen potato products manufacturing operations.

What products does Potato Products of Idaho (PPI) manufacture?

PPI manufactures and packages refrigerated and frozen potato products.

How much is Post Holdings paying for the acquisition of PPI?

The financial details of the transaction were not disclosed in the announcement.

Where is the PPI manufacturing facility that Post Holdings is acquiring located?

The manufacturing facility is located in Rigby, Idaho.