J.M. Smucker Sells Private Brand Pet Food Division To Post

The J.M. Smucker Co. has sold several of its pet food brands, including its private label business, to Post Holdings.

The value of the transaction is approximately $1.2 billion, consisting of $700 million in cash, subject to a working capital adjustment, and approximately 5.39 million shares of common stock of Post Holdings, Inc. The company previously announced the signing of a definitive agreement for the transaction on February 8, 2023.

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Additionally, the transaction includes relevant trademarks and licenses and the company's manufacturing and distribution facilities in Bloomsburg, Pa., as well as its manufacturing facilities in Meadville, Pa.; and Lawrence, Kansas. In addition, a group of employees are transitioning to Post Holdings, Inc. to support the business.

The deal also includes several national brands: Rachael Ray Nutrish, 9Lives, Kibbles 'n Bits, Nature's Recipe and Gravy Train.