Michael Foods to acquire National Pasteurized Eggs

Post Holdings subsidiary Michael Foods (MFI) has signed an agreement to acquire US-based National Pasteurized Eggs (NPE).

Financial details of the company have not been divulged by either company, and the transaction is subject to regulatory approval and other conditions.

The acquisition is expected to be completed by the fourth quarter of this year.

This acquisition will see NPE’s capabilities combined with the resources of MFI, which will boost manufacturing and supply capacity of pasteurised shell eggs, enabling the continued growth of this product segment and increasing food safety for shell egg users.

NPE supplies pasteurised shell eggs under the Davidson’s Safest Choice brand and various private label brands to restaurants, hotels, healthcare institutions, schools and other foodservice outlets worldwide.

It also provides its products to consumers through thousands of retailers across the US.

NPE has designed and developed its own technology called the Safest Choice technology, which removes salmonella in eggs without changing the taste or appearance.

MFI provides value-added eggs, as well as egg products, refrigerated potato products, cheese and other dairy-case products.

Lazard Middle Market served as financial adviser and Sidley Austin served as legal counsel to NPE on the transaction.