US – Michael Foods, a subsidiary of Post Holdings, has entered into an agreement to acquire America’s leading supplier of hard-boiled, peeled eggs Almark Foods.
Michael Foods Group, on the other hand supplies value-added egg products and refrigerated potato products to the foodservice and food ingredient channels.
Founded in 1990, Almark Foods supplies hard-boiled, peeled eggs to retailers, convenience stores, restaurant chains and salad manufacturers across the US.
Following the acquisition, Michael Foods will take control of Almark’s Foods plants in Arizona and Tennessee, which produce hard-boiled and deviled egg products.
“Almark Foods grew the retail hard-boiled egg business into a category leader and we are pleased that Michael Foods will be able to take this business to the next level,” said Rick Anderson, CEO of Almark Foods.
Artisan Kitchens, a division of Almark Foods, is however not being acquired in this deal and will remain ESOP (employee stock ownership plan) owned.
The financial terms of the transaction, which is expected to be completed by the first quarter of 2021, have not been disclosed.
News of the acquisition follows Post Holdings’ announcement earlier this month that it had agreed a deal to buy the Peter Pan peanut butter brand from Conagra Brands.
Post Holdings is an American consumer packaged goods holding company that operates in the center-of-the-store, foodservice, food ingredient, refrigerated, active nutrition and private label categories.
Following its acquisition, Almark Foods will become part of a family of leading packaged food products which include Honey Bunches of Oats®, Pebbles™, Great Grains® and Malt-O-Meal® bag cereal.
Post Holdings, Inc. the parent company of Michael Foods is also a leader in the United Kingdom ready-to-eat cereal category with the iconic Weetabix® brand.
Post participates in the private brand food category through its investment with third parties in 8th Avenue Food & Provisions, Inc., a leading, private brand centric, consumer products holding company.
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