New World Pasta to buy No Yolks, Wacky Mac brands
Dec. 21, 2011
by Eric Schroeder
HARRISBURG, PA. — New World Pasta Co., a wholly-owned subsidiary of Ebro Foods, S.A., has agreed to acquire the No Yolks and Wacky Mac dry pasta brands and certain assets from Bannockburn, Ill.-based Strom Products Ltd. for $50 million. The transaction is expected to close by Dec. 31, 2011.
No Yolks dry pasta, a noodle-style product, was first introduced in 1976. It is cholesterol free, contains no saturated fat and is high in fiber. The Wacky Mac brand also was introduced in 1976 as “a fun, healthy, vegetable-based pasta, comprised of unique shapes and four colors.”
Net revenue for the two brands will total approximately $37.5 million in 2011.
“The No Yolks brand commands the No. 1 market share position within the dry pasta noodle and dumpling segment in both the United States and Canada, and provides New World Pasta an excellent opportunity to solidify its leadership position within the North American dry pasta business,” said Peter Smith, president and chief executive officer of Ebro North America, the U.S. division of Ebro Foods, S.A. “In addition, this business presents manufacturing, logistical, and selling synergies that will result in the addition of two very profitable brands to New World Pasta’s portfolio.”
Antonio Hernandez Callejas, chairman and c.e.o. of Ebro Foods, added the acquisition of the two brands is consistent with Ebro’s plan to expand its leadership position within the branded North American pasta business. He said the brands “enable the company to continue to capitalize upon the North American consumers’ keen interest in wellness-related products that enable them to live a healthier lifestyle.”
New World Pasta is the largest branded pasta manufacturer in North America with leading brands such as Ronzoni, Creamette, Skinner, San Giorgio, Prince, Catelli, American Beauty, and Light & Fluffy. Ebro Puleva, S.A. acquired the company in 2006.