Post Holdings to acquire facility from Conagra Brands

St. Louis / MO. (pfh) 8th Avenue Food + Provisions Inc. announced that it has agreed to acquire the ConAgra Brands Inc. peanut butter facility in Streator, Illinois. The transaction is expected to be completed in the fourth calendar quarter of 2019 (8th Avenue’s first fiscal quarter), subject to customary closing conditions. Financial terms of the transaction were not disclosed. 8th Avenue expects to fund the transaction with cash on hand.

8th Avenue Food + Provisions is a leading, private brand-centric, consumer products holding company. It manufactures private brand food products, including nut butter, dried fruit and nut, granola and pasta, primarily to retail, foodservice and food ingredient customers. 8th Avenue Food + Provisions was formed in October 2018 through a combination of Post Holdings’ private brands businesses and is owned by Post Holdings Inc. and funds affiliated with Thomas H. Lee Partners, L.P., a private equity firm.