Post Holdings, Inc. and TreeHouse Foods, Inc., Oak Brook, Ill., have encountered a setback in the proposed Post acquisition of the private label ready-to-eat cereal business from TreeHouse that was announced on May 2.
The Federal Trade Commission (F.T.C.) indicated it is reviewing the transaction in closer detail. Closing of the transaction, which was expected in the third quarter of 2019, will now be delayed beyond July, according to the companies.
Post and TreeHouse Foods said they remain committed to the transaction and will continue to work collaboratively with the F.T.C. to resolve the matter. In the meantime, TreeHouse will continue to independently operate the R.-T.-E. cereal business.
The business generated $268 million in sales in 2018. It has a range of manufacturing capabilities and features two plants in Lancaster, Ohio, and Sparks, Nev. Upon closing, Post Holdings said it will integrate the business into its existing North American R.-T.-E. cereal business.
By Monica Watrous
Source: Food Business News
Consumer healthcare firm Haleon has appointed Tate & Lyle executive Dawn Allen as its new chief financial officer, effective 1 November 2024. Allen will succeed Tobias Hestler, who has decided to step down from the role, citing a long-term health condition, the company said.
The group said that the bottling line, which adds 6,500 square metres to the existing 60,700-square-metre site, is the next necessary stage in the company’s international development. The leading brand in Campari Group’s global sales, demand for the Italian bitter apéritif has grown by 500% in the last decade.
The partnership will see Coca-Cola adopt new technology to foster innovation and productivity globally. Through the deal, Coca-Cola has made a $1.1 billion commitment to the Microsoft Cloud and its generative AI capabilities.
