LANSING, Ill.--(BUSINESS WIRE)--National Pasteurized Eggs, Inc. (NPE) is pleased to announce it has entered into an agreement to be acquired by Michael Foods, Inc. (MFI), a subsidiary of Post Holdings, Inc.
The final transaction is subject to regulatory approval and other conditions. The acquisition is anticipated to be completed sometime early in the fourth quarter of calendar 2016. The terms of the transaction were not disclosed. The combination of NPE’s unique capabilities with the resources of MFI should increase manufacturing and supply capacity for pasteurized shell eggs, allowing continued growth of this product segment and increasing food safety for shell egg users.
NPE provides high quality pasteurized shell eggs under the Davidson’s Safest Choice® brand and various private label brands to restaurants, hotels, healthcare institutions, schools and other foodservice outlets around the world, as well as to consumers through thousands of retailers across the United States. NPE developed the Safest Choice™ technology, which eliminates salmonella in eggs without changing the taste or appearance.
MFI is a leading supplier of value-added eggs, as well as egg products, refrigerated potato products, cheese and other dairy-case products.
Lazard Middle Market served as financial advisor and Sidley Austin LLP served as legal counsel to National Pasteurized Eggs on the transaction.
For more information regarding National Pasteurized Eggs, please visit us at SafeEggs.com.