Michael Foods to acquire egg products provider Almark Foods

Post Holdings subsidiary Michael Foods has agreed to acquire hard-cooked and deviled egg products provider Almark Foods.

Financial details of the deal have not been disclosed by the companies.

Based in Gainesville, Georgia, US, Almark is a majority employee-owned (ESOP) company, which provides conventional, organic and cage-free products to retail outlets and foodservice distributors.

Almark Foods CEO Rick Anderson said: “Almark Foods grew the retail hard-boiled egg business into a category leader and we are pleased that Michael Foods will be able to take this business to the next level.

“Artisan Kitchens, a current division of Almark Foods, is not being acquired as part of this transaction, and will remain ESOP-owned.”

According to the agreement, Michael Foods will acquire the Almark Foods’ plants in Arizona and Tennessee.

Subject to customary closing conditions, the deal is expected to close in Q1 2021.

Upon the completion of the deal, Almark will be part of Michael Foods egg business.

With this deal, the financial results of Almark are expected to be split between Post’s foodservice and refrigerated retail segments.

For this deal, Cody Peak Advisors served as the exclusive adviser to Almark.

Earlier this month, Post Holdings entered a definitive agreement to acquire Conagra Brands’ Peter Pan peanut butter brand.

With a 100-year-old history, the Peter Pan brand has a diversified customer base across key channels in the country.