Post Holdings and TreeHouse Foods Announce HSR Early Termination for Proposed Private Label Ready-to-Eat Cereal Transaction
May 21 2019 - 8:00AM
Post Holdings, Inc. (NYSE:POST), a consumer packaged goods holding
company, and TreeHouse Foods (NYSE: THS) today announced that the
Federal Trade Commission has granted early termination of the
waiting period under the Hart-Scott-Rodino Antitrust Improvements
Act of 1976, as amended (the “HSR Act”), with respect to the
previously announced Post acquisition of the private label
ready-to-eat (“RTE”) cereal business of TreeHouse Foods (the
“TreeHouse RTE cereal business”).
The termination of the waiting period under the HSR Act
satisfies one of the closing conditions of the transaction. The
transaction is now expected to be completed in July 2019, subject
to customary closing conditions.
Forward-Looking Statements
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 the expected timing of
completion of the transaction. There is no assurance that the
acquisition of the TreeHouse RTE cereal business 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 satisfy 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’s and TreeHouse Foods’ filings with the
Securities and Exchange Commission. These forward-looking
statements represent Post’s and TreeHouse Foods’ judgement as of
the date of this release. Post and TreeHouse Foods disclaim,
however, any intent 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
center-of-the-store, refrigerated, foodservice, food ingredient,
and active 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®, Pebbles™, Great
Grains® and Malt-O-Meal® bag cereal. Post also is a leader in the
United Kingdom ready-to-eat cereal category with the iconic
Weetabix® 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 dishes and egg, sausage and cheese products through
the Bob Evans®, Simply Potatoes®, All Whites®, Better’n Eggs® and
Crystal Farms® brands. Post’s Active Nutrition platform brings good
energy to a wide range of consumers looking to live healthy lives
through brands such as Premier Protein®, PowerBar® and Dymatize®.
Post participates in the private brand food category through its
investment with Thomas H. Lee Partners in 8th Avenue Food &
Provisions, a leading, private brand centric, consumer products
holding company. For more information, visit
www.postholdings.com.
About TreeHouse Foods, Inc.
TreeHouse Foods, Inc. is a leading manufacturer and distributor
of private label packaged foods and beverages in North America. We
have over 40 production facilities across the United States, Canada
and Italy, and our vision is to be the undisputed solutions leader
for custom brands for our customers. Our product portfolio includes
shelf stable, refrigerated, frozen and fresh products, including
baked goods (refrigerated and frozen dough, cereal, cookies,
crackers, pretzels and snack bars); beverages (broth, single serve
hot beverages, creamers and powdered drinks); meal solutions
(dressings, hot cereal, macaroni and cheese, pasta, pickles, sauces
and side dishes); and healthy snacks (dried fruits and vegetables,
nuts and trail mix). We have a comprehensive offering of packaging
formats and flavor profiles, and we also offer natural, organic and
preservative-free ingredients across almost our entire portfolio.
Our purpose is to make high quality food and beverages affordable
to all.
Post Holdings Contacts:Investor
RelationsJennifer Meyer jennifer.meyer@postholdings.com (314)
644-7665
Media RelationsLisa Hanlylisa.hanly@postholdings.com(314)
665-3180
TreeHouse Foods Contact:Investor RelationsPI
Aquinopi.aquino@treehousefoods.com(708) 483-1331
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