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Post To Acquire Hearthside Cereal, Granola, Snacks

May 10, 2013
by candyandsnacktoday

St. Louis — Post Holdings, Inc. is acquiring both branded and private label cereal, granola and snacks from Hearthside Food Solutions, a portfolio company of Wind Point Partners, for $158 million in cash.

The company reports it has signed a definitive purchase agreement to be finalized in June and expects the new brands will result in an additional $70 million in sales.

“This acquisition will provide us with expanded presence with new retail partners and will be accretive to both top-line growth and earnings,” Post Chairman and CEO Bill Stiritz says.

Golden Temple, Peace Cereal, Sweet Home Farm and Willamette Valley Granola, as well as Hearthside’s private label brand business, all sold predominately in the natural and health channels, are included in the pending acquisition. A 135,000 square-foot manufacturing facility and a 30,000 square-foot warehouse in Eugene, Oregon, are also among the assets.

Post reports the new brands will become part of the company’s Attune Foods business and will be based in Eugene with offices in Phoenix and San Francisco.

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