{"id":394278,"date":"2020-12-07T08:33:15","date_gmt":"2020-12-07T13:33:15","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=394278"},"modified":"2020-12-07T08:33:15","modified_gmt":"2020-12-07T13:33:15","slug":"post-holdings-enters-into-definitive-agreement-with-conagra-brands-to-acquire-peter-pan-peanut-butter-brand","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/post-holdings-enters-into-definitive-agreement-with-conagra-brands-to-acquire-peter-pan-peanut-butter-brand\/","title":{"rendered":"Post Holdings Enters Into Definitive Agreement with Conagra Brands to Acquire Peter Pan\u00ae Peanut Butter Brand"},"content":{"rendered":"
\n

ST. LOUIS, Dec. 07, 2020 (GLOBE NEWSWIRE) — Post Holdings, Inc. (NYSE:POST) (\u201cPost\u201d) and Conagra Brands, Inc. (NYSE:CAG) (\u201cConagra\u201d) today announced that they have entered into a definitive agreement for Post to acquire the Peter Pan<\/em> peanut butter brand from Conagra. Peter P<\/em>an <\/em>is an iconic, nationally recognized brand with a 100-year-old history and a diversified customer base across key channels.\u00a0All Peter Pan<\/em>\u00a0peanut butter products are currently co-manufactured by 8th Avenue Food & Provisions, Inc., an affiliate of Post. <\/p>\n

Under the terms of the agreement, Conagra will provide transitional services to facilitate transitioning the business. Final terms of the transaction were not disclosed. The transaction is expected to be completed in the first calendar quarter of 2021, subject to customary closing conditions, including the receipt of any applicable regulatory approvals.<\/p>\n

Conagra appointed Goldman Sachs & Co. LLC as financial advisor to assist with the sale.<\/p>\n

\n Forward-Looking Statements<\/strong>\n <\/p>\n

Certain matters discussed in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are made based on known events and circumstances at the time of release, and as such, are subject to uncertainty and changes in circumstances. These forward-looking statements include statements regarding regulatory approvals and the expected timing of completion of the transaction. There is no assurance that the acquisition of Peter <\/em>Pan<\/em> by Post will be consummated, and there are a number of risks, uncertainties and assumptions that could cause actual results to differ materially from the forward-looking statements made herein, including risks relating to the timing and ability to obtain the required regulatory approvals and satisfy the other closing conditions for the proposed acquisition, the occurrence of any event, change or other circumstance that could delay the closing of the proposed acquisition, and other risks and uncertainties described in Post\u2019s and Conagra\u2019s filings with the Securities and Exchange Commission. These forward-looking statements represent Post\u2019s and Conagra\u2019s judgment as of the date of this release. Post and Conagra disclaim, however, any intent or obligation to update these forward-looking statements.<\/p>\n

\n About Post Holdings, Inc.<\/strong>\n <\/p>\n

Post Holdings, Inc., headquartered in St. Louis, Missouri, is a consumer packaged goods holding company operating in the center-of-the-store, refrigerated, foodservice, food ingredient and convenient nutrition food categories. Through its Post Consumer Brands business, Post is a leader in the North American ready-to-eat cereal category offering a broad portfolio including recognized brands such as Honey Bunches of Oats<\/em>\u00ae, Pebbles<\/em>\u2122, Great Grains<\/em>\u00ae and Malt-O-Meal<\/em>\u00ae bag cereal. Post also is a leader in the United Kingdom ready-to-eat cereal category with the iconic Weetabix<\/em>\u00ae brand. As a leader in refrigerated foods, Post delivers innovative, value-added egg and refrigerated potato products to the foodservice channel and the retail refrigerated side dish category, offering side dish, egg, cheese and sausage products through the Bob Evans<\/em>\u00ae, Simply Potatoes<\/em>\u00ae and Crystal Farms<\/em>\u00ae brands. Post\u2019s publicly-traded subsidiary BellRing Brands, Inc. is a holding company operating in the global convenient nutrition category through its primary brands of Premier Protein<\/em>\u00ae, Dymatize<\/em>\u00ae and PowerBar<\/em>\u00ae. Post participates in the private brand food category through its investment with third parties in 8th Avenue Food & Provisions, Inc., a leading, private brand centric, consumer products holding company. For more information, visit www.postholdings.com.<\/p>\n

\n About Conagra Brands<\/strong>\n <\/p>\n

Conagra Brands, Inc. (NYSE: CAG), headquartered in\u00a0Chicago, is one of\u00a0North America’s\u00a0leading branded food companies. Guided by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great food with a sharpened focus on innovation. The company’s portfolio is evolving to satisfy people’s changing food preferences. Conagra’s iconic brands, such as Birds Eye\u00ae,\u00a0Marie Callender’s\u00ae, Banquet\u00ae, Healthy Choice\u00ae, Slim Jim\u00ae, Reddi-wip\u00ae, and Vlasic\u00ae, as well as emerging brands, including Angie’s\u00ae BOOMCHICKAPOP\u00ae, Duke’s\u00ae, Earth Balance\u00ae, Gardein\u00ae, and Frontera\u00ae, offer choices for every occasion. For more information, visit\u00a0www.conagrabrands.com<\/a>.<\/p>\n

\n Post Holdings <\/strong>
\n Contact<\/strong>
\n s<\/strong>
\n :<\/strong>
\n
Investor Relations
Jennifer Meyer
jennifer.meyer@postholdings.com<\/a>\u00a0
(314) 644-7665<\/p>\n

Media Relations
Lisa Hanly
lisa.hanly@postholdings.com<\/a>\u00a0
(314) 665-3180<\/p>\n

\n Conagra <\/strong>
\n Brands Contacts:<\/strong>
\n
Media Relations
Dan Hare
Daniel.hare@conagra.com<\/a>\u00a0
(312) 549-5355<\/p>\n

Investor Relations
Brian Kearney
ir@conagra.com<\/a>\u00a0
(312) 549-5002\u00a0<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

ST. LOUIS, Dec. 07, 2020 (GLOBE NEWSWIRE) — Post Holdings, Inc. (NYSE:POST) (\u201cPost\u201d) and Conagra Brands, Inc. (NYSE:CAG) (\u201cConagra\u201d) today announced that they have entered into a definitive agreement for Post to acquire the Peter Pan peanut butter brand from Conagra. Peter Pan is an iconic, nationally recognized brand with a 100-year-old history and a diversified customer base across key channels.\u00a0All Peter Pan\u00a0peanut butter products are currently co-manufactured by 8th Avenue Food & Provisions, Inc., an affiliate of Post. Under the terms of the agreement, Conagra will provide transitional services to facilitate transitioning the business. Final terms of the transaction were not disclosed. The transaction is expected to be completed in the first calendar quarter of 2021, subject to customary … <\/p>\n

Continue reading “Post Holdings Enters Into Definitive Agreement with Conagra Brands to Acquire Peter Pan\u00ae Peanut Butter Brand”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-394278","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPost Holdings Enters Into Definitive Agreement with Conagra Brands to Acquire Peter Pan\u00ae Peanut Butter Brand - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/post-holdings-enters-into-definitive-agreement-with-conagra-brands-to-acquire-peter-pan-peanut-butter-brand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Post Holdings Enters Into Definitive Agreement with Conagra Brands to Acquire Peter Pan\u00ae Peanut Butter Brand - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"ST. LOUIS, Dec. 07, 2020 (GLOBE NEWSWIRE) — Post Holdings, Inc. (NYSE:POST) (\u201cPost\u201d) and Conagra Brands, Inc. (NYSE:CAG) (\u201cConagra\u201d) today announced that they have entered into a definitive agreement for Post to acquire the Peter Pan peanut butter brand from Conagra. Peter Pan is an iconic, nationally recognized brand with a 100-year-old history and a diversified customer base across key channels.\u00a0All Peter Pan\u00a0peanut butter products are currently co-manufactured by 8th Avenue Food & Provisions, Inc., an affiliate of Post. Under the terms of the agreement, Conagra will provide transitional services to facilitate transitioning the business. Final terms of the transaction were not disclosed. 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