Post Holdings, Tyson Foods post strong Q3 results buoyed by elevated demand in the food service channel

US – American consumer packaged goods demand Post Holdings and Arkansas-based multinational meat processing company Tyson Foods have reported double digit growth in net sales for quarter three buoyed by elevated demand in the food service channel.  Q3 net sales for Post Holdings were US$1.6bn, an increase of 19% (or US$253.4 million including US$78.5m in net sales from acquisitions made in the past two years) compared to US$1.3bn in the prior-year period.  During the quarter, Post saw its foodservice business rebound, growing by 80% year on year, primarily driven by out-of-home demand for its…

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Post Holdings makes new executive appointments as Tyra Banks unveils new ice cream brand

US – American consumer packaged goods company, Post Holdings, has made two executive appointments to drive better collaboration, cost reduction and revenue opportunities across the company’s portfolio.  Howard A. Friedman, currently President and CEO of Post-Consumer Brands, has been appointed Executive Vice President and Chief Operations Officer for Post Holdings.  Friedman will serve on Post’s executive management team, reporting to Post’s President and Chief Executive Officer, Robert V. Vitale.   Post said in a statement that Mr. Friedman will work with each of Post’s businesses to among other things manage long-tail projects and support each business…

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Tree house sells ready-to-eat cereal business to Post Holdings for US$85m

US – TreeHouse Foods, a leading multinational food processing company based in the US, has simultaneously signed a definitive agreement and completed the sale of its ready-to-eat cereal business to Post Holdings for $85 million. The deal encompasses the entire ready-to-eat cereal business which includes two manufacturing facilities, in Lancaster, Ohio and Sparks, Nevada. The facilities are reported to have production capabilities spanning batch and extruded products. The transaction also includes a research and development facility in Sauget, Illinois, as well as inventory valued at approximately US$30 million. “This transaction…

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