The Joplin Globe, Joplin, MO

Business

May 9, 2013

Post buying Hearthside Food business for $158M

ST. LOUIS — Cereal maker Post Holdings Inc. is buying the branded and private label cereal, granola and snacks business of Hearthside Food Solutions for $158 million, partly as a way to broaden its presence in the cereals category.

Post’s existing cereal brands include Honey Bunches of Oats, Post Raisin Bran and Grape-Nuts.

The deal will give Post access to brands such as Golden Temple, Peace Cereal, Sweet Home Farm and Willamette Valley Granola Co. as well as the private label granola business of Hearthside.

The buyout includes a manufacturing plant and a finished goods warehouse in Eugene, Ore. The facilities will be leased by Post.

Post said Thursday that it plans to combine the Hearthside business with Attune Foods, a ready-to-eat cereal business Post purchased in December. The combined business will continue to have a presence in Eugene, Ore., and will also have offices in Phoenix and San Francisco.

The deal is expected to close by June.

Shares of Post Holdings, which is based in St. Louis, added 83 cents, or 1.8 percent, to $46.31 in afternoon trading after rising to an all-time high of $47.80 earlier.

 

1
Text Only
Business
Poll

Have you ever served as a volunteer for your state's conservation department?

A. Yes.
B. No.
     View Results
Facebook
Twitter Updates
Follow us on twitter
NDN Video
Raw: Gunmen Attack Iraqi Prison Convoy Plane Leaves Ukraine With More Crash Victims The Rock Brings Star Power to Premiere Raw: Families Travel to Taiwan Plane Crash Site Arizona Execution Takes Almost Two Hours Gen. Odierno Discusses Ukraine, NATO at Forum Gaza Fighting Rages Amid Cease-Fire Efforts Mint Gives JFK Coin a Face-lift Creative Makeovers for Ugly Cellphone Towers Ariz. Inmate Dies 2 Hours After Execution Began Crash Kills Teen Pilot Seeking World Record LeBron James Sends Apology Treat to Neighbors Raw: Funeral for Man Who Died in NYPD Custody Migrants Back in Honduras After US Deports Israeli American Reservist Torn Over Return