Post Holdings Inc. has agreed to acquire Willamette Egg Farms LLC for $90 million.
Willamette Egg is a producer, processor and wholesale distributor of eggs and egg products, with a leading market share position in the Northwest United States. 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, Willamette Egg will be combined with Post's existing Michael Foods egg business, which it acquired in 2014.
"This transaction nicely complements our portfolio and fits well into Michael Foods," said Rob Vitale, Post's president and chief executive officer. "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, the company said.
Post anticipated completing the acquisition early in its first quarter of fiscal 2016, subject to customary closing conditions, including the expiration of waiting periods required under antitrust laws.