Post Holdings has acquired liquid egg-whites brand Egg Beaters from fellow US manufacturer Conagra Brands.
Announcing its full-year results yesterday (13 July), Conagra said the deal had been completed at the end of its fourth quarter, which ran to the end of May.
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Conagra did not disclose the name of the buyer but a spokesperson told Just Food Bob Evans Farms had acquired the assets.
Post Holdings, which has egg-related brands including Bob Evans Egg Whites in its portfolio, is the owner of the Bob Evans Farms business.
Asked to explain its move for the Egg Beaters brands, in a brief statement, a Post spokesperson said: “We bought Egg Beaters as it is a complementary brand to our refrigerated retail portfolio.”
Speaking to analysts after Conagra published its full-year numbers, CFO David Marberger said: “Given the timing of the closure, this sale had a minimal impact on our Q4 results, but we expect there to be an annualised net sales impact of roughly US$40m going forward. This will primarily be reflected in our Refrigerated & Frozen segment with small effects on our International and Foodservice segments. We estimate that the sale will have a total annualised impact on our EPS of approximately $0.01.”
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By GlobalDataIn December, Post struck a deal to buy the Peter Pan peanut butter brand from Conagra.
