Post Sells Pasta Business to Richardson

Dry pasta — Bozhin Karaivanov via Unsplash

Post Holdings Inc. has sold its pasta business acquired through the purchase of 8th Avenue Food & Provisions, Inc. to Richardson Holdings Limited.

The transaction, announced in August, involved Richardson paying $375 million in cash and assuming approximately $80 million in leaseback financial liabilities.

The transaction adds a durum mill and three pasta manufacturing facilities located in Carrington, North Dakota (which combines durum milling and pasta production), New Hope, Minnesota, and Winchester, Virginia (both dedicated to pasta manufacturing) — along with the Ronzoni brand. Richardson says these operations complement Richardson’s existing vertically integrated network across Canada and the U.S.

More than 500 employees from 8th Avenue will join Richardson's U.S. team, including operations personnel, while sales and commercial staff transition to the Richardson U.S. Country Office in St. Louis, Missouri.

"This is a meaningful step in Richardson's growth strategy,” says Darwin Sobkow, president and CEO of Richardson International. “It aligns with our vision to deliver value-added food ingredients through a vertically integrated supply chain connecting farm to table across North America. We've strengthened our position in the durum value chain and extended our production reach, further enhancing our ability to serve customers across retail, industrial and foodservice markets. We are committed to the long-term success of this business and will continue to invest in these facilities, the people and the partnerships that drive sustained value."

Post Holdings acquired 8th Avenue Food & Provisions, Inc. on July 1 for $880 million. The company is retaining 8th Avenue’s nut butters, fruit and nut products, and granola businesses, which will be integrated into the Post Consumer Brands segment.

Post projects these businesses to contribute approximately $45 million-$50 million in adjusted EBITDA in fiscal year 2026 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.

Through the 8th Avenue acquisition, Post internalized the manufacturing of its Peter Pan peanut butter.

"With this acquisition, we further our strategy of tactical private label positioning alongside leading brands,” Post President and CEO Rob Vitale said in June. “I am pleased to welcome back the approximately 1,580 employees of 8th Avenue who will join us as Post colleagues.”