Post to Acquire Golden Boy Foods for C$320M, Dymatize Enterprises for $380M
Post Holding (NYSE: POST) today announced it has agreed to acquire Golden Boy Foods Ltd. ("Golden Boy") and Dymatize Enterprises, LLC ("Dymatize") in two unrelated transactions. These transactions further Post's efforts to expand into the private label and active nutrition categories.
"Active Nutrition and private label are exciting categories with organic growth and consolidation opportunities. I am pleased that Post is continuing its expansion into these segments. We are fortunate to have identified two attractive businesses managed by talented teams," said William P. Stiritz, Post's Chairman and Chief Executive Officer.
Acquisition of Golden Boy Foods Post has agreed to acquire privately owned Golden Boy from affiliates of Tricor Pacific Capital, Inc. and other shareholders. Golden Boy is a North American manufacturer of private label peanut and other nut butters, as well as dried fruit, baking and snacking nuts. Golden Boy is a key supplier to the U.S. and Canadian retail and foodservice channels and participates in the rapidly growing organic packaged foods category. The nut butter category is expected to remain strong with the U.S. nut butter retail category projected to grow at a compound annual growth rate of 13%