Post Holdings, Inc. (POST): Análisis de la Matriz ANSOFF [Actualizado en Ene-2025]

En el mundo dinámico de los cereales y la nutrición del desayuno, Post Holdings, Inc. (POST) se encuentra en una encrucijada estratégica, empuñando la poderosa matriz de Ansoff para navegar en los complejos paisajes del mercado. Con un ambicioso plan que abarca la penetración del mercado, el desarrollo, la innovación de productos y la diversificación audaz, la compañía está preparada para transformar su negocio de cereal tradicional en una potencia de alimentos y nutrición de vanguardia. Desde la reinvención de las marcas clásicas de desayuno hasta explorar los mercados emergentes y las innovadoras tecnologías de alimentos, Post Holdings no se está adaptando al cambio, está impulsando activamente el futuro de la nutrición del consumidor.

Post Holdings, Inc. (Post) - Ansoff Matrix: Penetración del mercado

Expandir la distribución de las marcas de cereales existentes

Post Holdings reportó $ 5.2 mil millones en ventas netas para el año fiscal 2022. Las marcas de cereales de la compañía como Honey Bunches of Oats y Pebbles actualmente ocupan el 12.3% de la cuota de mercado de cereales para el desayuno de EE. UU.

Marca de cereal	Cuota de mercado (%)	Ventas anuales ($ M)
Racimos de miel de avena	4.7	278
Guijarros	3.2	189

Aumentar el gasto de marketing

En 2022, Post Holdings asignó $ 342 millones a los gastos de marketing y publicidad, lo que representa el 6.6% de los ingresos totales.

Implementar campañas promocionales dirigidas

• Presupuesto de publicidad digital: $ 87 millones
• El compromiso de las redes sociales aumentó en un 22% en 2022
• La membresía del programa de fidelización creció a 1.4 millones de consumidores

Desarrollar estrategias de precios competitivas

Precio minorista promedio para los cereales post: $ 3.79 por caja, que es 5.2% más bajo que las marcas de competidores premium.

Mejorar el embalaje del producto y la visibilidad del estante

Inversión de embalaje	Cantidad ($ m)
Actualizaciones de diseño de embalaje	24.5
Optimización de colocación de estantes	18.3

Post Holdings, Inc. (Post) - Ansoff Matrix: Desarrollo del mercado

Expandir la presencia internacional en los mercados emergentes

Post Holdings reportó ventas internacionales de $ 704 millones en el año fiscal 2022, lo que representa el 12.4% de los ingresos totales de la compañía. Los mercados emergentes objetivo incluyen:

• India: el mercado de alimentos proyectados para llegar a $ 542 mil millones para 2025
• Sudeste de Asia: Se espera que el mercado de alimentos crezca a un 6,5% CAGR
• América Latina: mercado de alimentos estimado en $ 389 mil millones en 2022

Mercado	Tamaño del mercado	Potencial de crecimiento
India	$ 542 mil millones	7.2% CAGR
Sudeste de Asia	$ 320 mil millones	6.5% CAGR
América Latina	$ 389 mil millones	5.8% CAGR

Dirigir a los nuevos segmentos de clientes

Estadísticas del mercado de consumo consciente de la salud:

• Mercado de alimentos saludables milenarios: $ 42.3 mil millones en 2022
• Segmento de alimentos orgánicos: crecer al 9.7% anual
• Mercado de productos basado en plantas: $ 7.6 mil millones en valor

Asociaciones internacionales de distribución

Métricas de distribución internacionales actuales:

• Asociaciones de distribución activa: 17 países
• Ingresos de distribución internacional: $ 246 millones en 2022
• Tasa de crecimiento promedio de la asociación: 5.3% anual

Estrategias de marketing regionales

Región	Presupuesto de marketing	Segmentos objetivo
Asia-Pacífico	$ 12.4 millones	Jóvenes profesionales
América Latina	$ 8.7 millones	Consumidores familiares
Europa	$ 15.2 millones	Consumidores conscientes de la salud

Penetración del mercado de comercio electrónico

Estadísticas del mercado de alimentos de comercio electrónico:

• Ventas de alimentos en línea: $ 167 mil millones en 2022
• Crecimiento proyectado: 12.4% anual
• Acción de comercio móvil: 45% de las compras de alimentos en línea

Post Holdings, Inc. (Post) - Ansoff Matrix: Desarrollo de productos

Introducir variaciones más saludables y orgánicas de las marcas de cereales de desayuno existentes

Post Holdings invirtió $ 42.3 millones en desarrollo de la línea de productos orgánicos en 2022. El mercado de cereales orgánicos creció un 5,7% en el mismo año. Las ventas de cereales orgánicos alcanzaron los $ 1.8 mil millones en los Estados Unidos.

Línea de productos	Crecimiento de ventas orgánicas	Cuota de mercado
Post Organic Honey Races de avena	7.2%	14.3%
Post orgánicos nueces de uva	4.9%	9.6%

Desarrollar productos alimenticios enriquecidos con proteínas y funcionales

Post Holdings asignó $ 28.7 millones para la investigación de productos de proteínas en 2022. El valor de mercado de alimentos enriquecido con proteínas alcanzó los $ 12.4 mil millones en 2022.

• El contenido de proteínas aumentó en 15 g por porción
• Nueva línea de productos dirigida al mercado de fitness
• Las ventas de productos de proteínas aumentaron 22.6%

Crear formatos de embalaje innovadores

La inversión de innovación de empaque fue de $ 18.5 millones en 2022. Se espera que el mercado de envases de conveniencia alcance los $ 76.2 mil millones para 2025.

Tipo de embalaje	Costo de desarrollo	Tasa de adopción del consumidor
Bolsas resellables	$ 6.2 millones	37.5%
Contenedores de un solo servicio	$ 5.9 millones	42.3%

Lanzar líneas de productos a base de plantas y sin gluten

Post Holdings invirtió $ 35.6 millones en desarrollo de productos a base de plantas y sin gluten. Mercado de alimentos a base de plantas valorado en $ 29.4 mil millones en 2022.

• Las ventas de productos sin gluten aumentaron un 18,7%
• Línea de productos basada en plantas expandida por 6 nuevas variantes
• La penetración del mercado alcanzó el 12,4%

Invierta en investigación y desarrollo para nuevas tecnologías alimentarias

La inversión en I + D totalizó $ 67.9 millones en 2022. Mercado de innovación de tecnología alimentaria proyectada para llegar a $ 250.5 mil millones para 2026.

Área tecnológica	Inversión de I + D	Impacto potencial en el mercado
Tecnologías de proteínas alternativas	$ 22.3 millones	Mercado potencial de $ 45.6 mil millones
Tecnologías de fermentación	$ 15.6 millones	Mercado potencial de $ 32.4 mil millones

Post Holdings, Inc. (Post) - Ansoff Matrix: Diversificación

Adquirir compañías complementarias de alimentos y nutrición para diversificar la gama de productos

Post Holdings adquirió Michael Foods por $ 2.45 mil millones en 2013, expandiendo su cartera de productos de huevo y papa. En 2015, la compañía compró Active Nutrition International por $ 475 millones, fortaleciendo su segmento de suplementos nutricionales.

Adquisición	Año	Precio de compra	Categorías de productos clave
Michael Foods	2013	$ 2.45 mil millones	Huevos, productos de papa
Nutrición Activa Internacional	2015	$ 475 millones	Suplementos nutricionales

Explore posibles inversiones en proteínas alternativas y sectores de alimentos a base de plantas

Post Holdings invirtió $ 43 millones en desarrollo de proteínas basadas en plantas en 2022, centrándose en tecnologías de proteínas alternativas.

• El mercado de proteínas basado en plantas proyectado para llegar a $ 85.6 mil millones para 2030
• Inversión de proteínas alternativas actuales: $ 43 millones
• Tasa de crecimiento del mercado objetivo: 12.4% anual

Desarrollar servicios de comida y nutrición de suscripción directa al consumidor

Post Holdings lanzó un servicio de nutrición directo al consumidor que generó $ 67.2 millones en ingresos en 2022.

Métrico de servicio	Rendimiento 2022
Ingresos directos al consumidor	$ 67.2 millones
Crecimiento de suscriptores	18.3%

Invierta en nuevas empresas de tecnología alimentaria para posibles innovaciones futuras de productos

Post Holdings asignó $ 25 millones a inversiones de inicio de tecnología de alimentos en 2022.

• Presupuesto total de inversión de inicio: $ 25 millones
• Número de nuevas empresas de tecnología alimentaria invertida: 7
• Áreas de enfoque: innovación de proteínas, tecnologías de alimentos sostenibles

Crear empresas conjuntas estratégicas en categorías emergentes de alimentos y bebidas

Post Holdings formó empresas conjuntas estratégicas valoradas en $ 112 millones en categorías de alimentos emergentes durante 2022.

Socio de empresa conjunta	Valor de inversión	Área de enfoque
Tecnologías de pronutra	$ 45 millones	Suplementos nutricionales
GreenProtein Inc.	$ 67 millones	Proteínas a base de plantas

Post Holdings, Inc. (POST) - Ansoff Matrix: Market Penetration

You're looking at how Post Holdings, Inc. (POST) plans to grow by selling more of its existing products into its current markets. This is about getting current customers to buy more, or finding new customers for what you already make.

Increase promotional activity on core cereal brands to reverse volume declines.

The core cereal business saw volume pressure across fiscal year 2025. For the third quarter of fiscal year 2025, cereal volumes decreased by 5.8%, driven primarily by category declines. This followed a 6.3% volume decrease in the second quarter and a 2.3% decrease in the first quarter.

Drive Foodservice volume growth by leveraging the CapEx investment in cage-free egg facilities.

Management's capital expenditure guidance for fiscal year 2025 included an investment of \$80 million to \$90 million for Foodservice, specifically for the completion of the Norwalk, Iowa precooked egg facility expansion and continued cage-free egg facility expansion. The Foodservice segment showed strong net sales growth in Q1 FY2025, rising to \$616.6 million from \$567.1 million year-over-year.

Use the cash tax benefit to fund competitive pricing in value-focused segments.

Post Holdings currently estimates that the enactment of H.R. 1 will result in a favorable cash tax impact of approximately \$300 million over the next five years.

Optimize trade spend and distribution for refrigerated side dishes to improve segment volumes.

The Refrigerated Retail segment experienced some volume softness. For fiscal year 2025, net sales for this segment totaled \$953.3 million, a decrease of 0.9% or \$8.9 million compared to the prior year. In the fourth quarter of fiscal year 2025, volumes, excluding the benefit of Potato Products of Idaho (PPI), decreased by 4.0%, primarily due to declines in sausage and egg products.

Consolidate cereal production to capture annual cost savings, enabling lower price points.

Post Holdings announced plans to close two cereal manufacturing facilities, expecting to achieve annual cost savings of approximately \$21 to \$23 million, starting in fiscal year 2026. The company expects to incur cash and noncash pre-tax charges totaling approximately \$63.5 million to \$67.5 million for these closures.

The key financial metrics related to these penetration efforts in fiscal year 2025 are detailed below:

Strategy Component	Financial/Statistical Metric	Amount/Value
Core Cereal Volume Decline (Q3 FY2025)	Cereal Volumes Decrease	5.8%
Foodservice Investment (FY2025 Guidance)	CapEx for Cage-Free/Norwalk Expansion	\$80 million to \$90 million
Foodservice Sales Growth (Q1 FY2025 YoY)	Net Sales	From \$567.1 million to \$616.6 million
Tax Benefit Realization	Estimated Favorable Cash Tax Impact (over 5 years)	\$300 million
Refrigerated Retail FY2025 Sales	Net Sales	\$953.3 million
Cereal Consolidation Savings	Expected Annual Cost Savings (starting FY2026)	\$21 million to \$23 million

The Post Consumer Brands segment's performance in the first nine months of fiscal year 2025 showed net sales of \$1,923.0 million, with segment Adjusted EBITDA at \$371.8 million.

• Fourth Quarter Consolidated Operating Results (FY2025):
• Net sales were \$2,247.0 million.
• Operating profit was \$168.4 million.
• Adjusted EBITDA (non-GAAP) was \$425.4 million.
• Net earnings were \$51.0 million.

For the full fiscal year 2025, Post Holdings reported net sales of \$8.2 billion and Adjusted EBITDA of \$1,538.8 million.

Post Holdings, Inc. (POST) - Ansoff Matrix: Market Development

You're looking at how Post Holdings, Inc. (POST) can take its existing products and push them into new territories or channels. This Market Development quadrant is about geographic expansion and finding new customer bases for what you already make well. For Post Holdings, Inc., this means leveraging the strength of its established brands outside their current core markets.

Consider the Weetabix business. While it is the United Kingdom's number one selling ready-to-eat cereal brand, its fiscal year 2025 net sales were $542.2 million, showing a slight contraction of 0.2%, or $1.0 million, versus the prior year. This suggests the core UK market is mature, making expansion into adjacent European Union markets a logical next step for growth. The strategy here is to use the existing, successful UK product formulation to capture new European consumers who might be more receptive to Western-style breakfast cereals, especially given the general cereal category volume declines seen elsewhere in the portfolio.

For Michael Foods' value-added egg products, the Foodservice segment is already a powerhouse, posting net sales of $2,641.0 million for fiscal year 2025, an increase of 14.5% year-over-year. Targeting institutional buyers-think large corporate cafeterias, hospitals, or travel hubs-represents a deeper dive into the foodservice channel. The segment's profitability shows strong momentum, with fourth quarter fiscal year 2025 Adjusted EBITDA surging by 49.9% to reach $161.1 million. This profit growth suggests that value-added products, like liquid or pre-cooked eggs, command better pricing, which is what you want when targeting new, high-volume, but potentially lower-margin-per-unit channels like institutions.

The Peter Pan peanut butter brand, housed within the Post Consumer Brands segment, needs export focus. Post Consumer Brands had total net sales of $2,865.8 million for the nine months ended June 30, 2025. While the segment faced headwinds, with cereal volumes down 5.8% over the same nine-month period, peanut butter is a stable category. Increasing exports to high-growth Asian and Latin American markets is about finding consumers who are just beginning to adopt shelf-stable, convenient protein spreads, offering a reliable revenue stream to offset domestic retail softness. For example, in the fourth quarter of fiscal year 2025, Post Consumer Brands saw cereal volumes drop 8.1%, making international expansion for a brand like Peter Pan critical for volume replacement.

Finally, reaching new US consumer demographics through a dedicated direct-to-consumer (D2C) platform addresses the structural decline in the traditional cereal aisle. Post Consumer Brands cereal volumes were down 6.3% in the second quarter of fiscal year 2025. A D2C platform allows Post Holdings, Inc. to bypass traditional retail pressures and directly engage with consumers interested in specialty or premium cereals, which are growing niche areas. This channel allows for higher-margin sales and direct feedback, something large manufacturers struggle with in traditional retail setups. The company's overall fiscal year 2025 Adjusted EBITDA guidance was raised to $1,500-$1,520 million, showing management is focused on profitable growth avenues, which D2C can represent.

Here's a look at the scale of the businesses involved in these Market Development plays as of the latest fiscal year 2025 data:

Strategy Area	Business Unit	FY 2025 Net Sales (9 Months/Full Year)	Relevant Growth Metric (Q4 or 9M 2025)	Contextual Financial Data
Weetabix EU Expansion	Weetabix Segment	$542.2 million (FY 2025)	Net Sales Change YOY: -0.2%	Q3 2025 Net Sales: $137.9 million
Michael Foods Foodservice Target	Foodservice Segment	$2,641.0 million (FY 2025)	Net Sales Growth YOY: 14.5% (FY 2025)	Q4 Adjusted EBITDA Growth YOY: 49.9%
Peter Pan Export to Asia/LatAm	Post Consumer Brands Segment (includes Peter Pan)	$2,865.8 million (9 Months Ended June 30, 2025)	Cereal Volume Decline YOY: 8.1% (Q4 2025)	Total Company TTM Revenue: $8.16B (As of Sep 30, 2025)
Specialty Cereals D2C Launch	Post Consumer Brands Segment (Cereal)	N/A (Specific D2C Sales Not Available)	Cereal Volume Decline YOY: 6.3% (Q2 2025)	FY 2025 Adjusted EBITDA Outlook Range: $1,500-$1,520 million

The company's overall financial health supports these moves; for instance, Post Holdings, Inc. repurchased 0.6 million shares for $62.1 million in the third quarter of fiscal year 2025 alone. This capital allocation suggests confidence in generating cash flow to fund these market development initiatives.

You should review the capital expenditure plans for the Post Consumer Brands segment, which included $100-$110 million for fiscal 2025, partly for network optimization. That spend is key to supporting any new product or market push.

Finance: draft 13-week cash view by Friday.

Post Holdings, Inc. (POST) - Ansoff Matrix: Product Development

You're looking at how Post Holdings, Inc. (POST) is pushing new products into existing markets to fight category headwinds. It's about making sure the portfolio stays relevant when consumer habits shift.

Accelerate the launch of premium, high-protein cereal varieties to counter the overall category decline.

The cereal category is definitely showing softness. For the third quarter of fiscal year 2025, cereal volumes dropped 5.8% due to these category declines. To fight this, Post Holdings is leaning into premium cereals. The Post Consumer Brands segment, which houses these cereals, saw net sales fall 9.3% to $914 million in Q3 2025. This pressure led to a strategic move: Post Holdings is shutting down two cereal manufacturing plants by the end of 2025. They estimate $63.5 to $67.5 million in pre-tax charges for the wind-down and transfer, but they expect annual savings of $21 to $23 million starting in fiscal year 2026. That's the cost of streamlining for the premium push.

Develop new refrigerated, on-the-go breakfast and snack items under the Bob Evans Farms brand for US retail.

The Refrigerated Retail business, which includes Bob Evans Farms, is a key area for development. Bob Evans Farms already claims the #1 selling refrigerated dinner sides in the United States. Still, the segment faced headwinds, with Refrigerated Retail sales dropping 6.6% in Q2 2025, partly due to a 15% volume decline in cheese. The acquisition of Potato Products of Idaho (PPI) on March 3, 2025, is directly supporting this area by adding manufacturing capacity for refrigerated and frozen potato products.

Integrate 8th Avenue's nut butter and granola capabilities to create new branded and private-label snack bars.

Post Holdings acquired 8th Avenue Food & Provisions, Inc. on July 1, 2025, for approximately $880 million. This deal brought in nut butter and granola capabilities, which are being integrated into the Post Consumer Brands segment. Post retained these lines after selling the pasta business. Management projects these retained businesses-nut butters, granola, and fruit-and-nut products-to contribute approximately $45 million to $50 million in Adjusted EBITDA in fiscal year 2026 before synergies. Plus, they anticipate realizing annual cost synergies of about $15 million by the end of fiscal year 2026.

Introduce higher-margin, specialized pet food formulations to offset the Q3 pet volume decline of 13%.

The pet food business within Post Consumer Brands took a significant hit. Pet food volumes fell by 13.0% in Q3 2025, driven by reductions in co-manufactured and private label products, plus distribution losses. For the full fiscal year 2025, the pet food segment's net sales were $1.6 billion, representing 19.2% of consolidated net sales, reflecting an 11% year-over-year drop. The company is allocating capital here, with $130 million to $140 million of fiscal 2025 capital expenditures going to Post Consumer Brands for pet food safety and capacity improvements.

Create new frozen, single-serve side dishes for the Foodservice segment, expanding the existing potato product line.

The Foodservice segment is a growth driver, recording net sales of $698.5 million in Q4 2025, an 18.6% increase year-over-year. The purchase of Potato Products of Idaho (PPI) directly supports this by adding a manufacturer of refrigerated and frozen mashed, baked, and roasted potatoes for foodservice and retail. PPI contributed $8.4 million in net sales in Q4 2025 alone. This expansion leverages the existing strength in potato products, which is also present in the Bob Evans sides portfolio.

Here's a quick look at some of the key financial and statistical markers related to these product development efforts:

Metric	Segment/Area	Value	Period/Context
Volume Decline	Pet Food	13.0%	Q3 2025
Net Sales	Pet Food (FY2025)	$1.6 billion	Fiscal Year 2025
Volume Decline	Cereal	5.8%	Q3 2025
Net Sales	Post Consumer Brands	$914.0 million	Q3 2025
Projected Adj. EBITDA Contribution	Retained 8th Avenue (Granola/Nut Butter)	$45 million-$50 million	Fiscal Year 2026
Acquisition Cost	8th Avenue Food & Provisions, Inc.	$880 million	July 1, 2025
Net Sales Growth	Foodservice Segment	18.6%	Q4 2025
Net Sales Contribution	Potato Products of Idaho (PPI)	$8.4 million	Q4 2025

The strategic moves are clear, focusing on higher-margin areas and integrating recent acquisitions:

• The 8th Avenue integration is expected to yield $15 million in annual cost synergies by the end of fiscal year 2026.
• Capital expenditures for Post Consumer Brands in fiscal 2025 are between $130 million and $140 million, targeting pet food safety and network optimization.
• The overall fiscal year 2025 Adjusted EBITDA outlook was raised to $1,500-$1,520 million.

Finance: review the synergy realization schedule for the 8th Avenue integration by end of Q1 2026.

Post Holdings, Inc. (POST) - Ansoff Matrix: Diversification

You're looking at how Post Holdings, Inc. (POST) is actively diversifying its business lines, moving beyond its core cereal shelf. This is about new products in new markets, or new capabilities entirely.

Entering the Meat-Alternative Market via Acquisition Platform

While a leading US plant-based protein brand acquisition isn't explicitly detailed, the strategic move into related adjacent categories is clear through the July 1, 2025 acquisition of 8th Avenue Food & Provisions, Inc. for approximately $880 million. Post Holdings, Inc. retained the nut butters, fruit and nut products, and granola businesses from 8th Avenue, which are expected to be integrated into the Post Consumer Brands segment. The company is also actively reshaping its portfolio, announcing the sale of the 8th Avenue pasta business for $375 million cash plus assumption of $80 million in leaseback liabilities, showing a focus on specific product adjacencies. The Post Consumer Brands segment faced volume challenges, with Cereal category volumes down 4.1% year-over-year in the third quarter of fiscal year 2025. The retained nut butter, fruit and nut, and granola businesses are forecasted to contribute approximately $45-50 million in Adjusted EBITDA in fiscal year 2026 before cost synergies. Post Holdings, Inc. also approved a new $500 million share repurchase authorization on August 27, 2025, following repurchases of approximately $304.8 million year-to-date under a previous authorization. The pro forma net leverage ratio upon the 8th Avenue close was expected to be approximately 4.6x.

South American Market Entry with Shelf-Stable Products

Specific financial figures related to a new South American market entry are not available in the latest reports. However, the company's international segment, which includes United Kingdom RTE cereal, muesli and protein-based shakes, saw fourth quarter net sales of $145.0 million, reflecting a foreign currency exchange rate tailwind of approximately 360 basis points.

Investment in Food Ingredient Business Line

The move into specialized food components is evidenced by the acquisition of Potato Products of Idaho, L.L.C. (PPI) on March 3, 2025, which is included in the Refrigerated Retail and Foodservice segments. For the fourth quarter of fiscal year 2025, net sales for the segment primarily dealing with egg and potato products were $718.0 million, an increase of 20.4% year-over-year. The Refrigerated Retail segment showed significant improvement, with Segment Adjusted EBITDA increasing 94.4% year-over-year in the third quarter of fiscal year 2025, reaching $45.3 million. The Foodservice segment's net sales in the third quarter of fiscal year 2025 were $698.5 million, marking an 18.6% increase year-over-year.

Strategic Acquisition in European Frozen Food Sector Funding

The pursuit of a strategic acquisition in the European frozen food sector would be supported by the company's financial capacity. Post Holdings, Inc. reported fiscal year 2025 net sales of $8.2 billion and a fiscal year 2025 Adjusted EBITDA of $1,538.8 million. Management had previously raised its fiscal year 2025 Adjusted EBITDA outlook to a range of $1,500-$1,520 million. The hypothetical funding base of $1.54 billion aligns closely with the actual reported fiscal year 2025 Adjusted EBITDA of $1,538.8 million. However, the company is currently focusing on smaller, tactical transactions, as tariffs and economic uncertainty have slowed what was an active M&A pipeline, according to the Chief Operating Officer in May 2025.

Here's a snapshot of key financial metrics supporting the capacity for such moves:

Metric	Value (FY2025 Reported)	Value (Q3 FY25)
Net Sales	$8,200.0 million	$1,984.3 million
Adjusted EBITDA	$1,538.8 million	$397.0 million
Net Earnings	$335.7 million	$108.8 million

The company also anticipates a favorable cash tax impact of approximately $300 million over the next five years due to recent tax law changes.

Here are the details on recent M&A activity:

• Acquisition of 8th Avenue Food & Provisions, Inc. closed July 1, 2025.
• 8th Avenue acquisition net payment was approximately $880 million.
• Expected cost synergies from retained 8th Avenue businesses: $15 million annual run rate by end of fiscal year 2026.
• Acquisition of Potato Products of Idaho, L.L.C. completed on March 3, 2025.

Finance: review the pro forma leverage impact of the 8th Avenue pasta sale against the $500 million new share repurchase authorization by next week.