Friday, January 30th0.2°C
24624
23669

Post Holdings to acquire Michael Foods for $2.45 billion to expand range of food products

ST. LOUIS - Cereal maker Post Holdings Inc. is buying fellow packaged food maker Michael Foods Inc. in a $2.45 billion deal that will expand Post's range of products.

Privately held Michael Foods makes a variety of egg, potato and dairy products. Its brands include Papetti's, Crystal Farms and Simply Potatoes. It is based in Minnetonka, Minnesota.

St. Louis-based Post says Michael will keep operating independently under current management.

Post also makes nutrition drinks and a variety of store brand products including pasta and peanut butter.

Post plans to fund the acquisition with debt and cash on hand. It also plans to raise up to $500 million with a stock sale.

Michael Foods is owned by an investor group that includes GS Capital Partners, Thomas H. Lee Partners and members of the company's management.

The Canadian Press


Read more Business News

24811


Recent Trending




Today's Market
S&P TSX14637.28+34.40
S&P CDNX667.11-0.19
DJIA17416.85+225.48
Nasdaq4683.407+45.413
S&P 5002021.25+19.09
CDN Dollar0.7903-0.002
Gold1286.60-5.10
Oil46.91+0.47
Lumber325.10+3.30
Natural Gas2.87-0.111

 
Okanagan Companies
Pacific Safety0.120.00
Knighthawk0.010.00
QHR Technologies Inc1.40-0.07
Cantex0.04+0.005
Anavex Life Sciences0.18-0.002
Metalex Ventures0.04+0.005
Russel Metals23.58-0.12
Copper Mountain Mining0.98-0.02
Colorado Resources0.15+0.005
ReliaBrand Inc0.01+0.0031
Sunrise Resources Ltd0.05+0.02
Mission Ready Services0.235+0.025

 



24667

FEATURED Property
2072906454 Cavell Place
3 bedrooms 4 baths
$1,369,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Leaving a job: changing careers

Many people, who find themselves out of work and with time on their hands, and money in their pockets due to lay-off, start thinking about a career change. If you weren’t happy with the directio...


Service fit makes happy employees

Finding the right employees for the front lines of your company is key to developing a great service attitude within your company. It is just as important as hiring the right accountant, manager, sale...


How to price: workbook approach

In 2008 Self Counsel Press published my book - Pricing Strategies for Small Business. The book is now available in Europe, India, Russia and the United States. The purpose of the book was to make avai...

_



24709




Member of BC Press Council


24697