Post Holdings could not acquisition a client for all of its private-label aliment business — bidding a move on Thursday to circuit off the analysis and advertise a boyhood pale in it to a Boston clandestine disinterestedness firm, The Post has learned.
In a move appear afterwards the markets closed, Thomas H. Lee Partners will buy a 39.5 percent pale in the private-label business — which makes nut er, broiled fruit, and nut, pasta and granola articles — for $250 million, additional demography on a allotment of the debt, admired at about $625 million.
Post, the maker of Honey Bunches of Oats, Grape-Nuts, Mom’s Best and Raisin Bran breakfast cereals, will absorb a 60.5 percent pale in the private-label aliment business, to be alleged 8th Avenue Aliment & Provisions.
The accord is accepted to be completed in October.
Earlier, PE close Cornell Capital was amid those that did absolute due activity on the private-label business — but anesthetized as Post was gluttonous about $1 billion for the business.
Post, based in St. Louis, appear on Jan. 11 that it was exploring alternatives for the analysis — moves that could accommodate an IPO or sale.
“Cereal does not accept abundant advance prospects,” an M&A broker said, and diversifying abroad from atom and departure clandestine characterization helps bigger ascertain Post.
A Post Holdings agent did not acknowledgment calls.
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