Post Foods, a US-based cereal brands manufacturer, has acquired the branded and private label cereal, granola and snacks business of Hearthside Food Solutions in an all-cash deal worth $158m.
Hearthside Food Solutions is a portfolio company of the private equity firm Wind Point Partners and is a contract manufacturer of consumer baked foods and snacks.
The acquisition included the Golden Temple, Peace Cereal, Sweet Home Farm and Willamette Valley Granola company brands, as well as its private label granola business. Both the private label and the acquired branded products are sold primarily through the natural and health stores.
Post Foods also acquired 135,000ft² manufacturing facility, which produces a range of product and package formats, and a 30,000ft² finished goods warehouse in Eugene, Oregon, where the business will continue to be based.
At the time of signing the agreement, Post stated that it plans to integrate the acquired business with its Attune Foods business, a branded ready to eat cereal business, which it acquired in December 2012. The expanded Attune Foods will continue to operate independently and will report to Post Holdings president and chief operating officer Terence Block.
Post Foods products include from whole grain and fiber to lower sugar offerings. Its brands include Honey Bunches of Oats, Pebbles, Great Grains, Post Shredded Wheat, Post Raisin Bran, Grape-Nuts, and Honeycomb.
