Almark Foods and Michael Foods, a subsidiary of Post Holdings, announced that they have entered an agreement for the sale of Almark Foods. The transaction is set to be completed by Q1 of 2021.
Michael Foods will acquire the Almark Foods' plants located in Arizona and Tennessee, which produce hard-boiled and deviled egg products.
"Almark Foods grew the retail hard-boiled egg business into a category leader and we are pleased that Michael Foods will be able to take this business to the next level," said Rick Anderson, CEO. "Artisan Kitchens, a current division of Almark Foods, is not being acquired as part of this transaction, and will remain ESOP owned."
Cody Peak Advisors, LLC acted as exclusive advisor to Almark on the transaction. Terms of the deal were not disclosed.
About Almark Foods
Almark Foods was founded in 1990 to meet the growing demand for egg options. Almark is a leading provider of hard-boiled, peeled eggs to retailers, convenience stores, restaurant chains and salad manufacturers nationwide.
About Artisan Kitchens
Artisan Kitchens, a manufacturer of premium, fully cooked egg products, including egg bites and omelets for retail and foodservice brands nationwide. Artisan Kitchens currently utilizes its state-of-the-art manufacturing facility in Newberry, South Carolina.
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