ST. LOUIS, Jun 01, 2021 (GLOBE NEWSWIRE) – Post Holdings, Inc. (NYSE: POST), a consumer packaged goods holding company, today announced the acquisition of the ready-to-eat cereals business ( “PAM”) from TreeHouse Foods for $ 85 million, as of today. The acquisition includes two facilities located in Lancaster, Ohio and Sparks, Nevada, which have a wide range of batch and extruded product production capabilities, a research and development facility located in Sauget, Illinois as well as assessed inventory. to about $ 30 million. The financial results of the acquired RTE cereals business should be published in the Post Consumer Brands segment and should be slightly dilutive compared to Post’s adjusted EBITDA for fiscal year 2021 and accretive for fiscal year 2022.
Use of a non-GAAP measure
Post uses Adjusted EBITDA, a non-GAAP measure, in this press release to supplement its financial measures prepared in accordance with US generally accepted accounting principles (GAAP). Adjusted EBITDA is not prepared in accordance with US GAAP as it excludes certain items and may not be comparable to similarly named measures of other companies.
Management uses certain non-GAAP measures, including Adjusted EBITDA, as key measures in assessing underlying business and segment performance, in making financial, operational and planning decisions and , in part, in determining cash bonuses for its officers and employees. In addition, La Poste is required to comply with certain restrictive covenants and limitations based on changes in EBITDA in its financing documents. Management believes that the use of non-GAAP measures, including Adjusted EBITDA, provides increased transparency and helps investors understand the underlying operational performance of La Poste and its segments and analyze operational trends. In progress.
Forward-looking financial information
Forward-looking financial information is necessarily speculative in nature, and it may be expected that some or all of the assumptions underlying the forward-looking financial information described above will not materialize or vary significantly from actual results. For more information on some of the factors that could cause actual results to differ materially from the information provided above, see “Forward-looking statements” below. Therefore, the forward-looking financial information provided above is only an estimate of what Post management believes to be achievable as of the date of this press release. It should also be recognized that the reliability of any predicted financial data decreases as the data is predicted into the future. In light of the above, information should be seen in context and should not be over-relied upon.
Certain matters discussed in this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on events and circumstances known at the time of publication and, as such, are subject to uncertainty and changing circumstances. These forward-looking statements include statements concerning the expected impact of the acquired RTE cereal business on Post’s adjusted EBITDA. There are a number of risks, uncertainties and assumptions that could cause actual results to differ materially from forward-looking statements made herein, including the risks and uncertainties described in documents filed by Post with the Securities and Exchange Commission. These forward-looking statements represent Post’s judgment as of the date of this release. Post, however, disclaims any intention or obligation to update these forward-looking statements.
About Post Holdings, Inc.
Post Holdings, Inc., headquartered in St. Louis, Missouri, is a consumer packaged goods holding company operating in the store center, refrigerated, catering, food ingredients and nutritious convenient food categories. Its businesses include Post Consumer Brands, Weetabix, Michael Foods, Bob Evans Farms and BellRing Brands. Post Consumer Brands is a leader in the ready-to-eat cereal category in North America and also markets Peter Pan® nut butters. Weetabix is home to the UK’s number one ready-to-eat cereal brand, Weetabix®. Michael Foods and Bob Evans Farms are leaders in chilled foods, delivering innovative, value-added chilled egg and potato side dishes to foodservice and retail networks. The post’s publicly traded subsidiary, BellRing Brands, Inc. is a holding company operating in the global practical nutrition category through its leading brands of Premier Protein® and Energize®. Post participates in the private label food category through its investment with third parties in 8th Avenue Food & Provisions, Inc., a leading consumer products holding company focused on private labels. For more information, visit www.postholdings.com.