Post Holdings forms subsidiary for its private brands business

Brentwood, Mo.-based Post Holdings has formed 8th Avenue Food & Provisions as a subsidiary for its private brands foods business, according to a report in the St. Louis Business Journal.

Post will receive $875 million from Thomas H. Lee Partners, which will co-own the operation, as part of the agreement, and Post Holdings will retain a 60 percent ownership. Jim Dwyer will continue as president and CEO of 8th Avenue, according to the report.

Post, a consumer packaged goods holding company with 2017 revenue of $5.23 billion, said earlier this year it was exploring options for the private brands business, including a sale or spinning it off as a standalone company, the report stated.