Sector News

Post Holdings held talks to merge with ConAgra's Lamb Weston unit

June 22, 2016
Food & Drink

Post Holdings held talks to merge with ConAgra’s Lamb Weston unit

Raisin Bran cereal maker Post Holdings Inc held talks to merge with ConAgra Foods Inc’s Lamb Weston frozen potato products unit, said a source familiar with the matter.

The talks have stalled but could be revived, the source said on Tuesday.

A potential deal between ConAgra and Post Holdings could value Lamb Weston at around $6 billion, said another source with knowledge of the matter.

ConAgra, the maker of Chef Boyardee pasta and Slim Jim beef jerky, said in November last year that it would spin off its Lamb Weston business into a separate, publicly listed company.

The Wall Street Journal first reported the talks earlier on Tuesday. (on.wsj.com/28Lrq60)

The two companies were discussing a Reverse Morris Trust structure for the deal, the first person said. A Reverse Morris Trust is a tax-free deal in which one company merges with a spun-off unit.

ConAgra spokesman Mike Cummins said the company did not comment on rumors or speculation.

Post Holdings was not immediately available for comment.

By Subrat Patnaik and Lauren Hirsch

Source: Reuters

comments closed

Related News

January 29, 2023

Danone appoints three new deputy CEOs

Food & Drink

Danone has appointed three deputy CEOs to “better connect categories and regions” and drive the delivery of its ‘Renew Danone’ strategy. The new appointees are Veronique Penchienati-Bosetta, Shane Grant and Juergen Esser. They will report to Danone CEO Antoine de Saint-Affrique.

January 29, 2023

PepsiCo Portugal invests €7.5m in biodigester

Food & Drink

PepsiCo Portugal has announced that it will invest €7.5 million to construct a new biodigester, which will turn organic waste into biogas. As well as helping its Carregado facility to achieve a 30% reduction in carbon emissions, the biodigester will also contribute to reducing gas consumption, allowing the installation to use the biogas produced during the anaerobic digestion process.

January 29, 2023

Kerry’s fellowship with Upcycled Food Foundation explores future of food waste prevention

Food & Drink

Kerry is sponsoring The Kerry Upcycled Food Foundation Fellowship in a new partnership with the Upcycled Food Foundation (UFF), the non-profit subsidiary of the Upcycled Food Association (UFA). The research fellowship is the second initiated by the UFF and will work toward advancing the understanding of the market, consumer perception and technical opportunities of upcycled food.

How can we help you?

We're easy to reach