ST. LOUIS โ On Oct. 10, Post Holdings, Inc. announced it has agreed to acquire Perfection Pet Foods, LLC for $235 million. Perfection Pet Foods is a leading manufacturer and packager of private label and co-manufactured pet foods and baked treats.
The acquisition includes all assets of Perfection Pet Foods, including two manufacturing facilities in Visalia, Calif. According to Post, the facilities will provide it with additional capacity to insource a segment of its existing pet food business, which the company began following its acquisition of several pet food brands from The J.M. Smucker Company. The deal will also serve as an entry point into the private label and co-manufacturing segments of the pet food industry for Post.
Following the closing of the acquisition, Perfection Pet Foodsโ financial results will be included in Postโs Consumer Brands division. Post expects Perfection Pet Foods to contribute about $25 million in adjusted EBITDA in the 12 months following the closing of the acquisition. Additionally, the company expects the acquisition will help reduce its future capital expenditures and contribute a tax benefit of $20 million.
The acquisition is set to be completed in the fourth quarter of 2023.
