Post Holdings Acquires Privately-held Pasta Firm Dakota Growers

(RTTNews) - Post Holdings, Inc. (POST), a manufacturer of branded ready-to-eat cereals, announced Thursday that it has completed the previously announced acquisition of private label pasta manufacturer Dakota Growers Pasta Company, Inc., effective January 1.

In early December, Post announced it has agreed to acquire Golden Boy Foods Ltd. and Dymatize Enterprises, LLC in two unrelated transactions. The company noted that these deals further its efforts to expand into the private label and active nutrition categories.

Post then stated that its cash on hand and borrowing capacity under its debt covenants are sufficient to fund the acquisitions of Golden Boy and Dymatize, as well as the previously announced acquisition of Dakota Growers.

Post added that it expects to maintain over the long-term a leverage level that will enable the company to continue to pursue additional acquisition opportunities.

Post shares closed Tuesday's trading at $49.27, down $0.19 or 0.38 percent.