Post Holdings Inc. on Aug. 7 struck a stock purchase agreement to acquire American Blanching Co., a manufacturer of peanut butter, for $128 million
American Blanching makes peanut butter for national brands, private label retail and industrial markets and provides peanut blanching, granulation and roasting services for the commercial peanut industry. It operates a manufacturing facility in Fitzgerald, Ga.
Post anticipates combining American Blanching with its early 2014 acquisition Golden Boy Foods, which brought Post into the peanut and other nut butter business. The acquisition is expected to contribute $135 million in sales.