Post Holdings Inc. completed its acquisition of Michael Foods, a leading producer of eggs and value-added food products, effective June 2. The acquisition, initially announced on April 17, is valued at $2.45 billion.
Post Holdings, a company most widely known for its line of breakfast cereals, also announced it closed its previously announced senior notes offering and senior secured term loan facility simultaneously with the closing of the Michael Foods acquisition. The company's previously announced common stock and tangible equity units offerings closed on May 28.
Michael Foods’ recognized brands include Papetti’s, Crystal Farms, AllWhites, Simply Potatoes, Abbotsford Farms and Eggland’s Best (under license).
Prior to the acquisition, Michael Foods, was owned by a group that includes affiliates of GS Capital Partners, affiliates of Thomas H. Lee Partners, and other investors.