ST. LOUIS — Post Holdings has completed its acquisition of 8th Avenue Food & Provisions, Inc. As part of the deal, which first was announced on June 4, Post has acquired all equity interests in the business for approximately $880 million.
8th Avenue is a manufacturer of branded and private label dry pasta and private label nut butters, granola and fruit and nut mixes. The company owns and operates the Ronzoni brand of dry pasta.
8th Avenue Food & Provisions was created in 2018 when Post Holdings and the private equity firm Thomas H. Lee Partners, Inc. partnered to create the company. The initial business consisted of Post’s private brands unit, which included the company’s nut butter, pasta and granola, dried fruit and nut snack businesses. In 2019, 8th Avenue acquired a peanut butter processing plant in Illinois from Conagra Brands, Inc.
The financial results of 8th Avenue will be reported in the Post Consumer Brands segment. Post management expects 8th Avenue to contribute approximately $115 million of adjusted EBITDA in the next 12 months following the close of the acquisition, before the realization of cost synergies, which Post management expects to be at an annual run rate of approximately $15 million by the end of fiscal year 2026.
