8th Avenue, based in St Louis, will buy the Ronzoni dry pasta brand and a manufacturing facility located in Winchester, Virginia, for an undisclosed sum.
Ebro has been selling off North American pasta brands over the last six months.
Scott McNair, CEO of 8th Avenue, said: “With its highly on-trend, versatile product offering, state-of-the art facility, and impressive customer base, Ronzoni has a strong foundation from which to build on its leading market presence. Together with the Ronzoni team, we look forward to driving further growth and scale by delivering innovative products to all our loyal customers.”
8th Avenue manufactures private-label food products, including nut butter, dried fruit and nut, granola and pasta, primarily to retail, foodservice and food ingredient customers. It was formed in 2018 through a combination of Post Holdings’ private-label businesses and is owned by Post Holdings and third parties.
Ebro said last month that it was considering offloading the Ronzoni brand following the sale of pasta assets in the US and Canada in the last six months. It said it was “evaluating the option” of selling its Ronzoni pasta brand, which, the company added, “has seen a great deal of interest from potential buyers”.
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In November, Ebro announced a deal to sell a clutch of pasta brands in the US, Prince, Creamette and Skinner, to local manufacturer TreeHouse Foods. A week earlier, Ebro said it agreed to offload its Catelli dried pasta business in Canada to Italian counterpart Barilla.
Last week, French newspaper Les Echos said Ebro’s France-based pasta business Panzani is reportedly on the radar of local peer Lustucru, which is considering teaming up with private-equity firm CVC to bid for the assets.
However, Ebro refused to be drawn on the report and said it had not put Panzani on the block. “This issue has been on the market from the divestment of our North American dry-pasta businesses,” a spokesperson said.