Post Holdings completed the acquisition of the ready-to-eat cereal business of Treehouse Foods for $85m.

Post Holdings, a consumer packaged goods holding company, completed the acquisition of the ready-to-eat cereal business of Treehouse Foods, a manufacturer and distributor of private label packaged foods and beverages in North America, for $85m. "This transaction is another important step in our strategic journey to create value for our customers and our shareholders. Based on our thorough efforts to find alternative buyers for the business, we believe this transaction is not only in the best interest of its employees and customers, but also gives the business the opportunity to flourish as part of Post. I want to express my gratitude to the approximately 500 RTE team members for their ongoing commitment, as we work closely with Post to facilitate a smooth transition for all stakeholders," Steve Oakland, TreeHouse Foods CEO and President.