Post Buys Two More Companies
Post Holdings Inc. continued its recent buying binge in December by agreeing to acquire Golden Boy Foods Ltd. and Dymatize Enterprises LLC in unrelated transactions. These transactions further Post's efforts to expand into the private label and active nutrition categories.
Golden Boy is a Vancouver-based manufacturer of private label peanut and other nut butters, as well as dried fruit, baking and snacking nuts. It has three plants in Canada and two in the U.S. The privately owned company came from affiliates of Tricor Pacific Capital Inc. and other shareholders.
Post has agreed to pay C$320 million for Golden Boy, which had sales of C$164 million in the first nine months of last year. It will be combined into Dakota Growers Pasta Co., an acquisition Post completed on Jan. 2.
Another privately held company, Dymatize manufactures protein powders, bars and nutritional supplements under the Dymatize and Supreme Protein brands. The products are in the "rapidly growing" sports nutrition supplement and nutrition bar categories. Dymatize was bought from affiliates of TA Associates and other owners. Post agreed to pay $380 million.
Post also acquired Premier Nutrition last September and in May the branded and private label cereal, granola and snacks businesses of Hearthside Solutions.