ST. LOUIS, Sept. 27, 2012 /PRNewswire/ -- Post Holdings, Inc. (NYSE: POST), a leading manufacturer, marketer and distributor of branded ready to eat cereals, announced today that it has agreed to repurchase 1.75 million shares of its common stock, at a price of $30.50 per share for an aggregate purchase price of approximately $53.4 million. These shares are a portion of the Post shares that were retained by Ralcorp Holdings, Inc. (NYSE: RAH), Post's former parent company, in connection with the spin-off of Post.
The shares purchased in the repurchase transaction equate to approximately 5% of Post's common shares currently outstanding.
The repurchase was approved by the Company's board and was funded using the Company's available cash on hand.
About Post Holdings, Inc.
Post Holdings, Inc. is the parent company of Post Foods, LLC. Post has enriched the lives of consumers, bringing quality foods to the breakfast table since the company's founding in 1895. Post's products are generally sold to supermarket chains, wholesalers, supercenters, club stores, mass merchandisers, distributors, convenience stores and the foodservice channel in North America. Those products are manufactured at four facilities located in Battle Creek, Michigan; Jonesboro, Arkansas; Modesto, California; and Niagara Falls, Ontario. Post's portfolio of brands includes diverse offerings to meet the taste and nutritional needs of all families, including such favorites as Honey Bunches of Oats®, Pebbles™, Great Grains®, Post Shredded Wheat®, Post® Raisin Bran, Grape-Nuts®, and Honeycomb®. Post is dedicated to health and wellness, offering consumers a variety of cereal choices to meet their nutritional needs from whole grain and fiber to lower sugar offerings. For more information, visit www.postfoods.com.
SOURCE Post Holdings, Inc.