Post Holdings To Buy American Blanching Company - Quick Facts

(RTTNews) - Post Holdings, Inc. (POST) announced it has signed a stock purchase agreement to acquire American Blanching Company, a manufacturer of peanut butter for national brands, private label retail and industrial markets and provides peanut blanching, granulation and roasting services for the commercial peanut industry. The acqusition calls for $128 million to be paid, on a cash-free, debt-free basis, subject to working capital and other adjustments. Post expects to complete the deal in the first quarter of fiscal 2015.

On a full year basis, American Blanching is expected to contribute approximately $135 million to net sales and approximately $14 million to $16 million of Adjusted EBITDA, Post Holdings said.

American Blanching operates a peanut butter manufacturing facility located in Fitzgerald, Georgia. Post anticipates combining American Blanching with Golden Boy Foods, its existing peanut and other nut butter business.