Dakota Growers is a leader in the approximately $5bn North American pasta market, with leadership positions in the private label retail, foodservice and ingredient channels.
The company is located in Carrington, North Dakota, where it has durum wheat milling and pasta production capabilities. Dakota Growers also has production capabilities in New Hope, Minnesota.
Terms of the deal call for $370m in cash to be paid at the time of closing, on a cash-free, debt-free basis, subject to a working capital adjustment. The acquisition will be funded by a combination of cash on hand and up to $200m in committed debt financing.
Source: Post Holdings
© FoodBev Media Ltd 2024