Post Holdings To Acquire Perfection Pet Foods For $235 Mln

(RTTNews) - Post Holdings, Inc. (POST), a consumer-packaged goods holding company, announced on Monday that it has agreed to acquire Perfection Pet Foods, LLC for $235 million.

The deal includes two manufacturing facilities in Visalia, California, that Post Holdings believes will provide it with extra manufacturing capacity to insource a portion of its current pet food business and give it an entry point into the private label and co-manufacturing pet food category.

"Post management expects Perfection to contribute approximately $25 million of Adjusted EBITDA in the next 12 months following the close of the acquisition," Post Holdings stated.

Further, the deal will also provide a net present value of around $20 million.

The transaction is expected to close in the fourth calendar quarter of 2023 and the first quarter of Post's fiscal 2024.

On Monday, shares of Post closed at $83.33 up 1.39% on the New York Stock Exchange.