Post talks merger with Lamb Weston
Honey Bunches of Oats manufacturer Post Holdings recently held talks to explore a merger with ConAgra’s frozen potato products business Lamb Weston, according to sources familiar with the matter.
Reuters reports a potential deal between the companies could value Lamb Weston at $6 billion. Talks between the companies have stalled, but could be revived, the publication says.
ConAgra announced in November last year it would separate into two independent public companies. One company, named Conagra Brands, Inc., comprises the company’s existing consumer portfolio of iconic brands that includes Marie Callender’s, Hunt’s, RO*TEL, Reddi-wip, Slim Jim, PAM, Chef Boyardee, Orville Redenbacher’s, P.F. Chang’s and Healthy Choice. The second company operates under the name Lamb Weston and include its frozen potato products business. ConAgra has since invested more than 230 million to expand operations at two Lamb Weston facilities in Washington and Oregon to increase processing capacity.
The Wall Street Journal first reported the news Tuesday.