ST. LOUIS — Post Holdings Inc. has agreed to acquire National Pasteurized Eggs, Inc. (NPE), a producer of pasteurized shell eggs, including cage-free and hard boiled eggs. Financial terms of the transaction were not disclosed.
Headquartered in Lansing, Illinois, NPE utilizes a patented in-shell pasteurization process that allows for commercial-scale production of pasteurized eggs. The company operates three egg production facilities located in Lansing; Dows, Iowa; and Flandreau, South Dakota, and distributes its products nationwide, serving the foodservice, retail and international channels.
Upon completion of the acquisition, NPE will be combined with Post’s existing Michael Foods egg business. The deal comes less than a year after Post acquired Willamette Egg Farms LLC, a Canby, Oregon-based producer, processor and wholesale distributor of eggs and egg products, with a leading market share position in the Northwest United States, for $90 million. Willamette Egg owns two egg production facilities located in Oregon and Washington and has been operating since 1934. Willamette Egg produces shell eggs, specialty shell eggs, including cage-free and organic eggs, and value-added egg products, including liquid and hard cooked eggs.
“This transaction continues our effort at building upon Michael Foods’ best-in-class egg foodservice business,” said Rob Vitale, president and CEO of Post. Post acquired Michael Foods, a producer and distributor of eggs, potatoes and dairy products, for $2.45 billion in April 2014.
Post anticipates completing the acquisition early in its first quarter of fiscal 2017, subject to customary closing conditions, including the expiration of waiting periods required under antitrust laws.
