Post holding inc [NYSE: POST], a consumer packaged goods holding company, declared that the company signed an agreement to buy Peter Pan peanut butter brand from Conagra. The peanut butter brand has a diversified customer base. The peanut butter brand is recognized across the nation. Moreover, It has a history that dates back to 100 years old. An affiliate of Post, the 8th Avenue Foods, currently Co manufactures all the products for the Peter Pan butter brand.
The transaction will complete in the first half of 2021. However, The transaction is subject to any customary closing condition including receipt of any regulatory approval. Moreover, To facilitate transitioning the business all the transitional services will be provided by Conagra. Conagra appointed Goldman Sachs as the financial advisor of the sale.