Richardson International has completed its acquisition of three American pasta plants from Post Holdings for a reported price of US $375 million.

The Canadian firm’s U.S. holdings subsidiary will purchase the assets from Post subsidiary 8th Avenue Food and Provisions.

The manufacturing facilities are located in Carrington, N.D., which combines drum and pasta production; and New Hope, Minn., and Winchester, Va. The latter two facilities focus on pasta manufacturing. The acquisition includes the Ronzoni retail pasta brand.

The Globe and Mail reported it as being US$375 million. According to the Globe, which did not cite any sources, Richardson also agreed to assume US$80 million in debt.

As part of the completed deal, about 500 employees have joined Richardson from 8th Avenue.

Richardson International and its U.S. holdings subsidiary are owned by James Richardson and Sons, which is also based in the Manitoba capital and ranks as a global leader in agriculture and food processing.

St. Louis-based Post Holdings’ businesses include Post Consumer Brands, the firm behind popular Post breakfast cereals as well as pet food, peanut butter and pasta products; U.K.-based cereal maker Weetabix; Michael Foods and Bob Evans Farms.

BMO Capital Markets served as Richardon’s financial advisor on the transaction, while Koley Jesson acted as legal counsel.

Photo: Richardson International