Food Business News - December 17, 2013 - (Page 20)

Choose Wenda for your next project. Post acquisition binge continues Company increases commitment to active nutrition and private label with latest purchases Innovative Meat Ingredients Premium Phosphate Blends. Made in Wenda's BRC Grade A facility. Alginate-based binding systems. Made in Wenda's BRC Grade A facility. Natural fruit and spice extracts that protect against pathogens while improving shelf life. Made in Spain, a BRC Grade A facility. A clean label and high quality functional beef protein designed to improve texture, retain moisture, increase cooked yields, and increase profits. Made in Brazil, a BRC Grade A facility. All-natural solution designed to replace phosphates in meat and poultry applications. Made in the USA. Tel: 630-527-9800 20 FOODBUSINESS NEWS ® Continued from Page 1 managed by talented teams." Post has agreed to pay $380 million for Dallas-based Dymatize, which manufactures and markets protein powders, bars and nutritional supplements under the Dymatize and Supreme Protein brands. Dymatize's products are sold in the sports nutrition supplement and nutrition bar categories. Citing Euromonitor data, Post said the global active nutrition category is expected to remain strong with the category projected to grow at a compound annual growth rate of 7% between 2014 and 2017. "The Dymatize brand has been growing substantially in excess of the market and Post management expects the Dymatize brand to continue to outpace category growth," Post said. "Dymatize's vertical integration and science-based model allows product customization for different end market consumers. Post management believes the Dymatize acquisition complements its active nutrition focus by expanding its channel diversification." Under terms of the agreement, Post will pay $380 million for Dymatize on a cash-free, debt-free basis and subject to a working capital adjustment, with additional consideration up to $17.5 million contingent upon Dymatize achieving certain profit targets in calendar year 2014. For the nine months ended Sept. 30, 2013, Dymatize had net sales of $146 million and adjusted EBITDA of $23 million. Post said the purchase of Dymatize is structured to allow it to benefit from amortization of tax basis resulting in a net present value benefit expected to be approximately $40 million to $45 million. The Dymatize transaction is expected to close on or around Feb. 1, 2014, subject to customary closing conditions, including the expiration of waiting periods under the Hart-Scott-Rodino Act. Dymatize will continue to be led by current president and chief executive officer, Greg Venner. Post also reached agreement to acquire privately owned Golden Boy from affiliates of Tricor Pacific Capital, Inc. and other shareholders for C$320 million ($300 million). Based in Burnaby, B.C., Golden Boy is a North American manufacturer of private label peanut and other nut butters, as well as dried fruit, baking and snacking nuts. Golden Boy is a supplier to the U.S. and Post route A timeline of acquisitions by Post Holdings, Inc. during 2013 September 2013 Dakota Growers Pasta Co. $370 million May 2013 Hearthside Food Solutions L.L.C. assets (cereal, granola and snack) $158 million December 17, 2013

Table of Contents for the Digital Edition of Food Business News - December 17, 2013

Food Business News - December 17, 2013
Post acquisition binge continues
WhiteWave Foods to acquire Earthbound Farm
New U.S.D.A. action plan targets Salmonella
Table of Contents
Web Contents
Editorial - Potential exists for a great 2014
Sysco to acquire US Foods in $8.2 billion deal
Pepsi ousts Coca-Cola at Buffalo Wild Wings
Kroger sees greater opportunity in ‘natural’ portfolio
Diamond Foods continues to struggle
C.D.C. taking food safety surveillance to food service
Use of antibiotics in meat animal production may be ending
Pizza: The next big thing in fast-casual?
On-line sales looming for food
Bob Evans Farm on the brink?
Post acquisition binge continues
Breaking in to breakfast
Global trends to watch in 2014
Yogurt makers pump up protein claims
Market Insight - Corn sweetener prices will be lower in 2014
Ingredient Innovations - Mimicking mother’s milk
Sodium reduction: A little goes a long way
Beverage Business News - Wellness beverages
New Food Products
Ingredient Market Trends - Nature’s bounty, nature’s wrath
Ingredient Markets
Supplier Innovations and News
Ad Index
Food Business in the News

Food Business News - December 17, 2013