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Post Holdings has entered into a definitive agreement to acquire 8th Avenue Food & Provisions in a deal worth $880 million.

8th Avenue, a US-based producer of branded and private label food products including nut butters, granola and pasta, was founded in 2018 as a strategic blend of Post Holdings’ private brands businesses.

In a statement announcing the acquisition, Post – owner of brands such as Weetabix and Bob Evans Farms – said it will extinguish 8th Avenue’s outstanding net debt and acquire all equity interests in the company for an $880 million net payment.

The deal will internalise the manufacturing of Post’s Peter Pan peanut butter products and represent its entry into the dry pasta category with 8th Avenue’s Ronzoni brand. It will also enable greater participation in the growing granola category within the broader breakfast cereals market.

Rob Vitale, president and CEO of Post Holdings, said: “With this acquisition, we further our strategy of tactical private label positioning alongside leading brands. I am pleased to welcome back the approximately 1,580 employees of 8th Avenue who will join us as Post colleagues.”

The transaction is expected to be completed on 1 July 2025, subject to closing conditions.