Post acquires egg producer
Missouri-based Post Holdings, Inc. — known for its cereal brands such as Honey Bunches of Oats and Pebbles — announced last week it has agreed to acquire National Pasteurized Eggs, Inc. (NPE).
NPE is a producer of pasteurized shell eggs, including all-natural, cage-free and hard boiled eggs. Its patented in-shell pasteurization process allows for commercial-scale production of pasteurized eggs. NPE operates three egg production facilities located in Illinois, Iowa and South Dakota and distributes its products nationwide, serving the foodservice, retail and international channels. Upon completion of the acquisition, NPE will be combined with Post’s existing Michael Foods egg business that includes All Whites and Better’n Eggs.
“This transaction continues our effort at building upon Michael Foods’ best-in-class egg foodservice business,” says Rob Vitale, Post’s President and CEO.
Post anticipates completing the acquisition early in its first quarter of fiscal 2017, subject to customary closing conditions, including the expiration of waiting periods required under antitrust laws. Terms of the transaction were not disclosed.