Post Holdings to acquire Willamette Egg Farms
Sept. 23, 2015
by Eric Schroeder
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Willamette Egg produces shell eggs, specialty shell eggs, including cage-free and organic eggs, among other egg products.
ST. LOUIS – Post Holdings, Inc. is adding to its egg business. The company on Sept. 23 agreed to acquire Willamette Egg Farms, LLC, a Canby, Ore.-based producer, processor and wholesale distributor of eggs and egg products, with a leading market share position in the Northwest United States, for $90 million. Willamette Egg owns two egg production facilities located in Oregon and Washington and has been operating since 1934.
Willamette Egg produces shell eggs, specialty shell eggs, including cage-free and organic eggs, and value-added egg products, including liquid and hard cooked eggs. Upon completion of the acquisition, Post said Willamette Egg will be combined with Post’s existing Michael Foods egg business. Post acquired Michael Foods, a producer and distributor of eggs, potatoes and dairy products, for $2.45 billion in April 2014.
“This transaction nicely complements our portfolio and fits well into Michael Foods,” said Rob Vitale, president and CEO of Post Holdings. “Willamette Egg will further increase our leadership as the country’s largest provider of cage-free egg products and contributes to additional geographic flock diversification.”
On a full-year basis, Willamette Egg is expected to contribute approximately $80 million to net sales and approximately $15 million of adjusted EBITDA to Post's results.
Post expects to complete the acquisition early in its first quarter of fiscal 2016.