Post (NYSE:POST) has agreed to buy American Blanching for $128M, in another deal aimed at diversifying its portfolio. Post has been on a buying spree since 2012 when it spun off Ralcorp Holdings, and most recently acquired Michaels Foods for $2.5B in June.
The deal, expected to close in FQ1, is expected to contribute about $135M to net sales annually.
The company reported a FQ3 loss yesterday due to the expenses related to its recent acquisitions.
POST -10.1% AH