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
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