Latest news with #8thAvenue
Yahoo
5 days ago
- Business
- Yahoo
Post Holdings buys rest of Ronzoni pasta maker for $880M
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Post Holdings is spending $880 million to buy out the remainder of 8th Avenue Food & Provisions, which owns the Ronzoni pasta brand and makes a variety of dried goods such as granola and nuts. 8th Avenue was formed in 2018 when Post transferred its private label business to a new entity. Post sold a 39.5% stake in that entity to private equity firm THL, which it is now buying back. The deal is expected to close July 1, and Post will take over about $111 million in leases as part of the transaction. The acquisition further deepens Post's presence in both private label and branded food, allowing it to provide a wider range of price points. As economic headwinds prompt some consumers to pull back on spending, Post is positioning its business to remain competitive, regardless of the environment. In recent years, Post has built a presence in a particular food category and then ensured the company has both branded and private label offerings to sell to retailers and consumers. With its latest acquisition, Post will have a deeper presence in both segments for foods, such as nut butter, cereal and dry pasta. Once the transaction closes, Post will become the top private label player in peanut and tree nut butter as well as granola, while being No. 2 in dry pasta. 8th Avenue recorded net revenue of $1.1 billion in its fiscal 2024 year. 'With this acquisition, we further our strategy of tactical private label positioning alongside leading brands,' Post president and CEO Rob Vitale said in a statement. The purchase also creates other benefits for Post, whose branded food products include Grape-Nuts cereal, Bob Evans refrigerated sides and Peter Pan peanut butter. According to an investor presentation provided by the St. Louis-based company, the addition of the rest of 8th Avenue secures Post's Peter Pan nut butter supply and enables the food manufacturer to become more meaningful to retail partners in the category. The acquisition enables greater participation in the growing granola sub-category of ready-to-eat cereal, complementing Post's existing business. In addition, Post gains exposure to dry pasta, something the holding company did not have before. Post described the transaction as 'an attractive capital allocation opportunity.' The purchase is expected to increase cash flow and create synergies of about $15 million annually. Post, which traces its roots to being a cereal-only company, became a sprawling food company with a presence in many categories through M&A. Similar to that acquisition strategy, 8th Avenue was formed seven years ago to look for M&A opportunities, eventually acquiring peanut butter and Ronzoni pasta. However, Post said a challenged capital structure following COVID-19 made it hard for 8th Avenue to fully execute its M&A strategy. Post noted last month that tariffs and economic uncertainty have slowed 'what was an active M&A pipeline,' according to Jeff Zadoks, the company's COO. He added that Post would focus on 'smaller tactical transactions' that have a 'clear line of sight to synergies.' Recommended Reading Inside Post Holdings' transformation from cereal slinger to a diversified CPG giant Sign in to access your portfolio
Yahoo
6 days ago
- Business
- Yahoo
Cereal maker Post enters pasta business with $880M Ronzoni purchase
Cereal maker Post enters pasta business with $880M Ronzoni purchase originally appeared on Bring Me The News. Post, the foods manufacturer known for cereal brands including Malt-O-Meal and Fruity Pebbles, is entering the pasta business. St. Louis-based parent company Post Holdings announced it has bought back 8th Avenue Food & Provisions, the company it spun off in 2018. 8th Avenue was primarily known for nut butters, granola bars, nuts and dried fruit products it made for grocery chains and private label companies, but in the seven years since it was spun off from Post, it also acquired Ronzoni. Now, Post's 880 million purchase marks the company's first foray into dried pasta, with Ronzoni one of the biggest brand names in the 8th Avenue portfolio. The 8th Avenue goods will be added to the Post Consumer Brands umbrella, which is based in Lakeville, Minnesota. "With this acquisition, we further our strategy of tactical private label positioning alongside leading brands. I am pleased to welcome back the approximately 1,580 employees of 8th Avenue who will join us as Post colleagues," said Rob Vitale, President and CEO of Post. While Barilla is the undisputed No. 1 brand of dried pasta in the U.S., Ronzoni is among the biggest competitors, with grocery studies generally placing it as the 2nd-4th most popular brand among American consumers. Post says the acquisition of 8th Avenue is expected to close on July 1, with the $880 million purchase price including the assumption of $111 million of financial leases. This story was originally reported by Bring Me The News on Jun 4, 2025, where it first appeared.
Wall Street Journal
7 days ago
- Business
- Wall Street Journal
Post Holdings to Buy Ronzoni Pasta Owner 8th Avenue Food
Post Holdings agreed to buy 8th Avenue Food & Provisions, whose products include Ronzoni pasta, for $880 million, which includes assumed debt. Post formed 8th Avenue in 2018, transferring its private brands into a new business that received a cash infusion from private-equity firm THL. 8th Avenue acquired Ronzoni pasta in 2021. Post said it would extinguish the outstanding net debt of 8th Avenue and acquire all equity interests for a net payment of about $880 million. The purchase price includes the assumption of $111 million of finance leases. The acquisition internalizes the manufacturing of Post's Peter Pan peanut butter and will enhance the company's presence in granola cereal.
Vogue
23-05-2025
- Vogue
Read an Exclusive Excerpt From Tommy Dorfman's New Memoir, Maybe This Will Save Me
I was, for a time, living on 14th Street and 8th Avenue in an overfull, illegal three-bed above a brothel that I shared with two other gay men. One was from Australia. He was the tallest and had the smallest room, which was just half the living room converted into a makeshift bed area. No windows or closet. The other was an otter from New Jersey, and we used to drink together from time to time. I think they both regretted inviting me into the apartment as soon as I'd moved my stuff in. Perhaps it had something to do with the months I slept with a mattress on the floor and nothing unpacked because I couldn't get around to doing it, what with the drinking and all. When the hour for sleep arrived around 9:00 a.m., whether alone or with a boy, I'd pull the cracked vinyl shades down over my window, shrouding the room in darkness and transforming it into a Stygian twink cave. The type of place you'd expect to find Edward Cullen getting bottomed. What sparse beams of light made it through the blinds illuminated the permanent cloud of cigarette smoke that hung heavy in the air. A diary written in Parliament Lights. I'd roll over onto my side, stare at my nightstand, perpetually covered in a blanket of dust and cocaine residue. Resting atop it was a cityscape of empty cans of whatever shitty beer we'd picked up at the bodega downstairs. Or swiped from a bar and stuffed into the pockets of our trench coats, the condensation seeping into the fabric and creating strange little Rorschachs that the rest of the world could only interpret in one way: those bitches are addicts. But still, I needed sleep. I needed my heart to stop pounding through my fucking chest. And I'd just tell myself, quietly, usually in a fetal position, It's okay if you die, just get some sleep. It's okay if you don't wake up, just go to sleep… Stealing those beers always reminded me of this woman Laura that I partied with in Atlanta from the ages of, like, 15 to 19. She looked like a New Jersey housewife that got elected Queen of the Fags on a bachelorette weekend in Atlanta and was never allowed to leave again. Brown, thick hair framed her chiseled face, a skeleton of a body swaddled in oversized Rag & Bone T-shirts and Helmut Lang leather leggings. Always in a blazer, with a Love bracelet and the loudest, raspiest laugh you'd ever heard. She must've been in her mid-to-late 40s. We met through her best friend, Billy, who supplied our drugs. His lot in life is still unknown to me. He wouldn't even let us inside his apartment when we'd go to pick him up. He, too, was a shell of a man—short and skinny, high-pitched voice, always ready to read you for filth. Laura would fill the base of her Hermès Birkin with Long Island iced teas from Blake's, a glorified trailer on the edge of Piedmont Park that was my—and every other faggot in a two-hour driving range's—safe haven. We'd pile into Billy's Audi A3 and ride over to whatever warehouse afters or shithole drug den we'd been called to and finish them off. But back to sunrises. Or, actually, one sunrise in particular: The morning of May 13th, 2013. My eyes are glossed over, squinty as the sun rises up and presents herself to all of creation. It's my 21st birthday, and I keep thinking how underwhelming and meaningless the occasion feels given that I've spent the last decade blacking out. I'm with Peter, my boyfriend, in a taxi driving across the Williamsburg Bridge. I peer through the window, looking out at the East River. My phone is dead, my toes and fists are clenched. Peter brushes his fingers through my hair, getting stuck in my blond locks—matted and greasy, but still soft. At least, he thinks so. The night wasn't supposed to end this way. I should have been at LaGuardia an hour ago to catch a flight to Burlington for my old prom date Jessica's graduation at UVM. But I wasn't. And now I'm here, suffering from a mild form of delirium tremens in the arms of my lover, while Jessica's probably applying the finishing touches to the winged eyeliner she always pulls off so well. My throat is raw from cocaine drip and cigarette smoke. Numb, tired, ashamed. I keep stretching out my chapped lips to feel their sting.
Yahoo
18-05-2025
- Yahoo
HPD: Man injured after shooting on 8th Avenue
HUNTSVILLE, Ala. (WHNT) — The Huntsville Police Department says it is investigating after a person was injured following reports of a shooting. According to HPD, at around 7:30 p.m., officers were sent to a shooting in progress call in the 3400 block of 8th Avenue in Huntsville. When they arrived on the scene, HPD said they were told by neighbors that the person injured was already on the way to the hospital by a personal vehicle. Later on, authorities said officers contacted the victim, who is recovering from non-life-threatening injuries at the hospital. HPD said it has detained the 'person or persons' who were involved in the incident and said that a member of the Violent Crimes Unit is investigating. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
