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Post Holdings to Acquire Michael Foods

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By: Sean Moloughney

Editor, Nutraceuticals World

Post Holdings, Inc. St. Louis, MO, has agreed to acquire MFI Holding Corporation (Michael Foods) from affiliates of GS Capital Partners, affiliates of Thomas H. Lee Partners and other owners.

Michael Foods is a producer of value-added food products and service solutions to customers across the foodservice, retail and food ingredient channels. It holds leading market positions in categories including value-added egg products, refrigerated potato products and cheese and other dairy case products. Michael Foods has well-known brands such as Papetti’s, All Whites, Better ‘n Eggs, Easy Eggs, Simply Potatoes and Crystal Farms.

The Michael Foods acquisition will be Post’s largest transaction to date, continuing Post’s strategy of investing in large secular themes in the food industry. Post remains focused on diversifying its business to capitalize on shifts in consumer behavior toward increased consumption of protein and away-from-home breakfast occasions. Post management expects to recognize approximately $10 million in synergies resulting from benefits of scale.

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