ICR Inc. is guiding sausage maker Bob Evans Farms as it agrees to a $1.5B acquisition by Post Holdings, the big cereal maker based in St. Louis.
The deal joins Post, which markets favorites such as Honey Bunches of Oats and Pebbles, with Evans' pork sausages to provide the St. Louis-based company a bigger share of the breakfast market.
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CEO Rob Vitale noted that Evans expands Post's presence in foodservice and higher growth categories of the packaged food market. "Combining with Bob Evans expands our portfolio of top brands and gives Post a leading position in the perimeter of the store," he said.
Founded in 1948, Evans distributes sausages, refrigerated potato/pasta/vegetable side dishes and frozen convenience items under the Bob Evans, Owens, Country Creek and Pineland Farms brands.
ICR's Scott Van Winkle represents Evans, which is headquartered in New Albany, Ohio.
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