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Post Completes Pasta Acquisition

Thu, 01/02/2014 - 12:32pm

ST. LOUIS (AP) — Post Holdings closed on its $370 million acquisition of Dakota Growers Pasta Company Inc., which was half of a two-part deal as the cereal maker expands the types of food it offers.

Post said last month that it was buying privately held Golden Boy Foods Ltd. for $300.2 million. It plans to combine Golden Boy with Dakota Growers, which it said it would buy in September. Golden Boy makes private label peanut butter and other nut butters. It also makes dried fruit, baking and snacking nuts. The Canadian company is a supplier to U.S. and Canadian retail and food-service companies.

Post, based in St. Louis, makes cereals such as Grape-Nuts, Great Grains and Honeycomb.

Shares of Post Holdings Inc. added 6 cents to $49.33 in morning trading on Thursday.

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