“We have enormous respect for Bob Evans’ success and are excited about the growth opportunities this combination will create,” said Rob Vitale, president and chief executive officer of Post Holdings. “Combining with Bob Evans expands our portfolio of top brands and gives Post a leading position in the perimeter of the store. We look forward to welcoming the talented Bob Evans team to Post and working to create a successful future together.”
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After the acquisition, Post expects to combine its existing refrigerated retail egg, potato and cheese business with Bob Evans, establishing a refrigerated retail business within Post. That business will be led by Mike Townsley, Bob Evans’ current President and CEO. Jim Dwyer will continue in his current role as President and CEO of the Michael Foods Group, managing the commercial foodservice egg, potato and pasta businesses. That will include the Bob Evans foodservice business.
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Bob Evans Farms Inc. has a major presence in Springfield, with a transportation center at AirparkOhio. The company opened its first distribution center at AirparkOhio in 2002, according to the park website.
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The acquistion comes after Bob Evans Farms Inc. sold its Bob Evans Restaurants to Golden Gate Capital in May. Bob Evans sold its restaurant to the private equity firm for $565 million. Golden Gate Capital has bought the restaurant chain, and will retain the Bob Evans leadership team to guide the transition as it takes part of the company private, the company said. Net proceeds are expected to be between $475 million and $485 million, according to a company statement.
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