8th Avenue Food & Provisions, Inc. to Acquire Ronzoni® Dry Pasta Brand from Riviana Foods, a subsidiary of Ebro Foods, S.A.

Monday, 29. March 2021 14:00

ST. LOUIS, March 29, 2021 (GLOBE NEWSWIRE) -- 8th Avenue Food & Provisions, Inc. (“8th Avenue”) today announced that it has agreed to acquire the Ronzoni dry pasta brand and a dry pasta manufacturing facility located in Winchester, Virginia from Riviana Foods Inc. Ronzoni is a 100-year-old brand with a comprehensive portfolio across traditional and value-added pasta.

Scott McNair, Chief Executive Officer of 8th Avenue, said, “We are looking forward to welcoming the Ronzoni brand to our team, a pioneer and leader in the pasta category. With its highly on-trend, versatile product offering, state-of-the art facility, and impressive customer base, Ronzoni has a strong foundation from which to build on its leading market presence. Together with the Ronzoni team, we look forward to driving further growth and scale by delivering innovative products to all our loyal customers.”  

The transaction is expected to be completed in the second calendar quarter of 2021 (8th Avenue’s third fiscal quarter), subject to customary closing conditions including the receipt of any applicable regulatory approvals. Financial terms of the transaction were not disclosed by 8th Avenue. 8th Avenue expects to fund the transaction with a combination of cash on hand and through borrowings under its existing credit facilities.

Forward-Looking Statements

Certain matters discussed in this press release are forward-looking statements. These forward-looking statements are made based on known events and circumstances at the time of release, and as such, are subject to uncertainty and changes in circumstances. These forward-looking statements include, among others, expected sources of financing, regulatory approvals and the expected timing of completion of the transaction. There is no assurance that the acquisition of the Ronzoni brand or dry pasta manufacturing facility by 8th Avenue will be consummated, and there are a number of risks, uncertainties and assumptions that could cause actual results to differ materially from the forward-looking statements made herein, including risks relating to the timing and ability to obtain any applicable regulatory approvals and satisfy the other closing conditions for the proposed acquisition, the timing of obtaining financing for the proposed acquisition, the occurrence of any event, change or other circumstance that could delay the closing of the proposed acquisition, and other risks and uncertainties in Post Holdings, Inc.’s filings with the Securities and Exchange Commission. These forward-looking statements represent 8th Avenue’s judgment as of the date of this press release. 8th Avenue and Post Holdings, Inc. disclaim, however, any intent or obligation to update these forward-looking statements.

About 8th Avenue Food & Provisions, Inc.

8th Avenue Food & Provisions is a leading, private brand-centric, consumer products holding company. It manufactures private brand food products, including nut butter, dried fruit and nut, granola and pasta, primarily to retail, foodservice and food ingredient customers. 8th Avenue Food & Provisions was formed in October 2018 through a combination of Post Holdings’ private brands businesses and is owned by Post Holdings and third parties. For more information, visit www.8ave.com.

Contact:
Investor Relations
Jennifer Meyer
jennifer.meyer@postholdings.com
(314) 644-7665


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