Riviana Foods sells the Ronzoni pasta brand to Post Holdings
The transaction is expected to be finalized in the second quarter of 2021
Riviana Foods, a subsidiary of Ebro, will sell the Ronzoni dry pasta brand to 8th Avenue Foods & Provisions, a Post Holdings subsidiary, in a deal worth $ 95 million. The sale includes the Ronzoni brand and a dry pasta manufacturing plant in Winchester, Virginia. Ronzoni generated net sales of approximately $ 102 million in 2019 and $ 115.8 million in 2020. The deal comes after Riviana sold most of its US-branded pasta portfolio to TreeHouse Foods, including St. George and Creamette, along with its St. Louis manufacturing facility. Ebro Foods also recently sold its Catelli dry pasta production business in Canada to Barilla (see EFA News article from 1-2-21).
8th Avenue Foods & Provisions is a holding company that produces private label food products such as nut butters, granola and pasta. With the sale, Ebro will maintain its presence in the North American market through its dry and fresh pasta businesses, including Garofalo, Bertagni and Olivieri, its frozen products (Ebrofrost) and rice-based products such as those under the Tilda brand.
Scott McNair, CEO of 8th Avenue Foods & Provisions, said: "With its versatile and trendy product offering, state-of-the-art facility and impressive customer base, Ronzoni has a solid foundation from which to build our presence on the market. Together with the Ronzoni team, we look forward to driving further growth of the company by distributing innovative products to all our loyal customers". The transaction, subject to certain closing conditions and regulatory approval, is expected to be finalized in the second quarter of 2021.
EFA News - European Food Agency