Post Foods, a US-based cereal brands manufacturer, has bought Dakota Growers Pasta from Viterra, a wholly-owned subsidiary of Glencore Xstrata, for $370m in cash.
Dakota Growers is located in Carrington, North Dakota, where it operates durum wheat milling and pasta production sites; it also has production capabilities in New Hope, Minnesota.
In September 2013, Post signed a deal to acquire Dakota Growers.
Post chairman and CEO William P Stiritz then said, "With Dakota Growers, Post continues to expand its portfolio into segments of the overall food industry where it sees opportunities to grow and diversify its strong cash flow."
The acquired entity will be managed independently from other Post Holdings businesses by its existing management team led by vice president and general manager Ed Irion.
Post expects Dakota Growers to contribute about $300m to its net sales and up to $46m in EBITDA.
