Missouri-based Post Holdings expands with Almark Foods

Headquartered in St. Louis, Post Holdings Inc. has announced plans to expand its egg business with the purchase of another egg products producer out of Georgia.

The Missouri-based consumer packaged goods company has agreed to acquire Gainesville, Georgia-based Almark Foods, which is majority owned by an employee stock ownership plan (ESOP). The deal, for which terms weren’t disclosed, is expected to close in the first quarter of 2021.

Post said it will combine Almark with its existing Michael Foods egg business, and split Almark’s financial results between Post’s foodservice and refrigerated retail segments, officials said Monday.

Almark Foods said its plants in Yuma, Arizona, and New Market, Tennessee, which produce hard-boiled and deviled egg products, are included in the deal. Almark offers conventional, organic and cage-free products distributed to retail outlets as well as foodservice distributors.

Davis, California-based private equity firm AGR Partners in June 2016 made a “significant growth capital investment” in Almark. The egg producer went on to invest $27.5 million to buy 17 acres and build a 120,000-square-foot plant in Yuma that opened in 2018.

“Almark Foods grew the retail hard-boiled egg business into a category leader and we are pleased that Michael Foods will be able to take this business to the next level,” Rick Anderson, Almark’s CEO, said in a statement.