Post Holdings to Acquire Weetabix
On April 18, 2017 Post Holding, Inc. (NYSE: POST), a consumer packaged goods (CPG) holding company, announced that it will acquire Weetabix Limited (“Weetabix”). Weetabix produces and sells wholegrain breakfast cereals to customers around the world. It ranks number two in the overall ready-to-eat (“RTE”) cereal category in the United Kingdom. The combination of the two brands creates a diversified international food company with substantial free cash flow generation. Post and Weetabix have identified the following highlights from the transaction:
- Establishes UK platform with iconic brand in the RTE cereal category
- Accretive to Post’s Adjusted EBITDA margins and free cash flow
- Synergistic fit in multiple geographies
Under the terms of the Agreement, Post will acquire Weetabix for £1.4 Billion (approximately $1.79 billion) on a cash free, debt-free basis. Post plans on funding the acquisition through a combination of cash on hand and utilization of an existing revolving credit facility. The transaction is expected to close in the third quarter of 2017.
Read the full press release at www.postholdings.com
Below are highlights of additional Merger and Acquisition activity from the last week:
Technology M&A News: On April 20, 2017 ColorTV announced that it had entered into an agreement to acquire Guidebox Inc. – the OTT video search and discovery metadata provider to nearly 50 television brands. ColorTV is an end-to-end platform for broadcasters to promote, personalize, and attribute content on connected TVs and streaming devices. The terms of the deal were not disclosed.
Read more at www.colortv.com
Pharmaceutical M&A News: On April 19, 2017 PLx Pharma, Inc. (NASDAQ: PLXP) (“PLx”) announced it has officially completed its previously announced merger with Dipexium Pharmaceuticals, Inc. (“Dipexium). PLx is a late-stage specialty pharmaceutical company focused on developing its clinically validated and patent-protected product, PLxGuard. The combined company began trading on NASDAQ Capital Market under the symbol “PLXP” on April 20, 2017.
Read more at www.plxpharma.com
Electronic Components M&A News: On April 19, 2017 KEMET Corporation (“KEMET”) (NYSE: KEM), a leading global supplier of passive electronic components, announced that is has completed its previously announced acquisition of TOKIN Corporation (“NEC TOKIN”).
Read more at www.kemet.com
