- Post Holdings, maker of Grape Nuts, Alpha Bits, Honey Bunches of Oats, and other cereals, said late last week it will pay $2.45 billion to acquire Michael Foods from Goldman Sachs.
- Michael Foods, based in Minnetonka, Minn., makes potato and egg brands, including All Whites and Simply Potatoes.
- Post said it expects 2014 Ebitda from Michael Foods of $255 million to $270 million.
Post has been in an acquisition frenzy since it was spun off from Ralcorp. In the past few months, the St. Louis-based company has bought Dakota Pasta, a peanut-butter maker, a supplements company, and Nestle's Powerbar and Musashi brands.
With a lust like that for closing deals, it's little wonder that Post beat out Tyson -- which was reportedly the only other bidder for Michael Foods. As we've mentioned before, Tyson had the pockets for a deal this size, but doesn't have a history of making big purchases.