Post Holdings, Inc. recently entered into a definitive agreement to sell 8th Avenue Food & Provisions, Inc.’s pasta business to Richardson (US) Holdings Limited, the U.S. subsidiary of Richardson International Limited. In the transaction, Richardson will pay $375 million in cash and assume approximately $80 million in leaseback financial liabilities. The transaction is expected to close in Post’s first fiscal quarter of 2026, subject to customary closing conditions. Post acquired 8th Avenue on July 1 and will retain 8th Avenue’s nut butters, fruit and nut products, and granola businesses, which are expected to be integrated into Post’s consumer brands segment.

The acquisition expands Richardson’s food and ingredients presence in the U.S., adding production facilities and brands to its portfolio.

The transaction includes three production facilities – located in Carrington, N.D.; New Hope, Minn.; and Winchester, Va. – as well as the Ronzoni retail brand. By integrating further down the value chain into pasta, Richardson will strengthen its ability to connect its position in North American durum origination and milling to the production of finished pasta products.

“This acquisition represents an exciting, new chapter for Richardson,” says Darwin Sobkow, president and CEO of Richardson International. “The handling and milling of durum wheat is a core strength of our business, and the opportunity to extend our reach into pasta builds directly on that foundation. We look forward to welcoming members of the 8th Avenue team as we continue to serve customers across North America.”

Following the transfer of shares, approximately 500 employees from 8th Avenue will join Richardson, enhancing the company’s capabilities in the North American food sector. Future strategy will emphasize innovation and growth in both retail and foodservice pasta markets.

Post expects that 8th Avenue’s nut butters, fruit and nut products, and granola businesses will contribute approximately $45-50 million in Adjusted EBITDA in the 2026 fiscal year before the realization of cost synergies, which Post’s management expects to be at an annual run rate of approximately $15 million by the end of the 2026 fiscal year. This results in a synergized acquisition multiple for the remaining business that is below 7 times synergized Adjusted EBITDA, in line with Post’s synergized acquisition multiple presented in conjunction with its 8th Avenue acquisition on June 3.

BMO Capital Markets Corp. is serving as financial advisor to Richardson International Limited on the transaction, with Koley Jessen as legal counsel.