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3 months ago
BRIEF-Post CEO comments on Weetabix acquisition
April 18, 2017 / 12:51 PM / 3 months ago

BRIEF-Post CEO comments on Weetabix acquisition

1 Min Read

April 18 (Reuters) - Post Holdings Inc

* Post exec says combined post/weetabix to have annual sales of $5.5 billion, adjusted ebitda of $1.1 billion

* Post exec says deal creates follow-on acquisition opportunities

* Post exec says high deal multiple supported by weetabix market position, margin and uk tax environment

* Post exec says spoke to weetabix over a year ago about interest in buying company

* Post exec says weetabix deal won't stop it from looking at other deals

* Post exec says higher prices could lead to sales growth in future, but profit growth to be driven by cost savings

* Post exec says to borrow half of purchase price in pounds sterling

* Post exec says currently has no manufacturing footprint in uk, where it will now acquire 3 plants

* Post exec says expects weetabix revenue will continue to be roughly flat Source text for Eikon: Further company coverage: (Reporting By Martinne Geller)

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