Post Holdings, parent company of egg products company Michael Foods, has agreed to acquire National Pasteurized Eggs (NPE).
Post anticipates completing the acquisition early in its first quarter of fiscal 2017, subject to customary closing conditions, including the expiration of waiting periods required under antitrust laws. Terms of the transaction were not disclosed.
NPE is a producer of pasteurized shell eggs, including all-natural, cage-free and hard boiled eggs. Its patented in-shell pasteurization process allows for commercial-scale production of pasteurized eggs. NPE operates three egg production facilities located in
Lazard Middle Market served as financial advisor to NPE on the transaction.
Growth for Michael Foods
“This transaction continues our effort at building upon Michael Foods’ best-in-class egg foodservice business,” said Rob Vitale, Post Holdings’ president and CEO.
Since Michael Foods was acquired by Post Holdings in June 2014, the company has grown. In 2015, Post completed a $90 million acquisition of Willamette Egg Farms, which at the time the 30th largest egg producer in the U.S
Michael Foods recently announced that it would convert its egg layer farm in Bloomfield, Nebraska, into a cage-free operation.