View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
December 7, 2020

Post Holdings to buy Peter Pan peanut butter brand from Conagra

Post Holdings is to acquire a well-known brand from US peer Conagra Brands for an undisclosed sum, it has announced.

By Leonie Barrie

Post Holdings is to acquire the Peter Pan peanut butter brand from US peer Conagra Brands for an undisclosed sum.

In a short statement issued today (7 December), Weetabix cereal brand owner Post said it had entered a definitive agreement with Conagra which will see it acquire the brand, subject to the usual closing conditions.

Post described the Peter Pan spread as an “iconic, nationally recognised brand with a 100-year-old history and a diversified customer base across key channels”.

All Peter Pan peanut butter products are co-manufactured by 8th Avenue Food & Provisions, which is an affiliate of Post. 8th Avenue primarily manufactures and distributes private-label peanut and other nut butters.

Under the terms of the agreement, Conagra will provide transitional services to facilitate switching over the business. 

The transaction is expected to be completed in the first calendar quarter of 2021. Approached by just-food, Conagra declined to comment further than the statement announcing the transaction.

Dating back to 1920, Peter Pan peanut butter is reputed to be the first product of its type to be sold in plastic jars. It is currently sold in 11 varieties.

In October 2018, Post and private-equity firm Thomas H. Lee Partners separately capitalised 8th Avenue, which became the holding company for the US manufacturer’s private-label food products business. Post retained 60.5% of the common equity in 8th Avenue.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every other month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Just Food