Richardson International has agreed to acquire three American pasta plants from Post Holdings for a reported price of US $375 million.

The manufacturing facilities are located in Carrington, N.D., New Hope, Minn., and Winchester, Va. The proposed acquisition also includes the Ronzoni retail pasta brand.

Richardon did not disclose the proposed purchase price, but The Globe and Mail reported it as being US$375 million. According the Globe, which did not cite any sources, Richardson has also agree to assume US$80 million in debt.

Richardson plans to integrate its leading position in durum wheat origination and milling with the production of finished pasta products, said the Winnipeg-based company. If all goes according to plan, the Canadian firm’s U.S. holdings subsidiary will purchase the assets from Post subsidiary 8th Avenue Food and Provisions.

As part of the proposed deal, 500 employees will join Richardson from 8th Avenue.

“This acquisition represents an exciting new chapter for Richardson,” says Darwin Sobkow, president and CEO of Richardson International. “The handling and milling of durum wheat is a core strength of our business, and the opportunity to extend our reach into pasta builds directly on that foundation. We look forward to welcoming members of the 8th Avenue team as we continue to serve customers across North America.”

Richardson International and its U.S. holdings subsidiary are owned by James Richardson and Sons, 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 is serving as Richardon’s financial advisor on the transaction, while Koley Jesson is acting as legal counsel.

Photo: Richardson International