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
Heineken has named Guillaume Duverdier as its new regional president for Africa Middle East (AME), effective 1 July 2025. Duverdier will also join the company’s executive team, succeeding Roland Pirmez, who is retiring after 29 years with the brewer.
The transaction, of which the financial terms were not disclosed, includes seven facilities in total: three dry corn milling facilities in Nebraska, Kansas and Illinois; three dry masa facilities in Texas, Indiana and Iowa; and a transload and packaging facility in Mexico. The dry corn milling division will continue to be headquartered in St Louis, Missouri.
As part of the changes, Elizabeth Duggan, current senior vice president and general manager, will now be president of the company’s snacks division as of 12 May, taking over from Chris Foley, who will step down in July after 25 years with Campbell’s.
