National Pasteurized Eggs to be acquired by Michael Foods

Business Wire

LANSING - National Pasteurized Eggs has entered into an agreement to be acquired by Michael Foods, a subsidiary of Post Holdings.

Terms of the transaction were not announced. The final transaction is subject to regulatory approval and other conditions and is anticipated to be completed sometime early in the fourth quarter of calendar 2016.

The combination of NPE's unique capabilities with the resources of MFI should increase manufacturing and supply capacity for pasteurized shell eggs, allowing continued growth of this product segment and increasing food safety for shell egg users, the company said in a release.

NPE provides high quality pasteurized shell eggs under the Davidson's Safest Choice brand and various private label brands to restaurants, hotels, health care institutions, schools and other food service outlets around the world, as well as to consumers through thousands of retailers across the United States. NPE developed the Safest Choice technology, which eliminates salmonella in eggs without changing the taste or appearance.

MFI is a leading supplier of 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 LLP served as legal counsel to National Pasteurized Eggs on the transaction.