Harrisburg / PA. (prn) New World Pasta Company announced that it has entered into an agreement to acquire the «No Yolks» and «Wacky Mac» dry pasta brands and certain assets from Strom Products Limited for 50 million USD. The transaction is expected to close by December 31, 2011.
«The No Yolks brand commands the number one market share position within the dry pasta noodle and dumpling segment in both the United States and Canada, and provides New World Pasta an excellent opportunity to solidify its leadership position within the North American dry pasta business» said Peter Smith, President and CEO of Ebro North America, the U.S. division of Ebro Foods S.A. «In addition, this business presents manufacturing, logistical, and selling synergies which will result in the addition of two very profitable brands to New World Pasta´s portfolio».
«The acquisition of the No Yolks and Wacky Mac brands is consistent with our strategic plan to expand our leadership position within the branded North American pasta business», said Antonio Hernandez Callejas, Chairman and Chief Executive Officer of Spanish Ebro Foods, the parent company of New World Pasta. «They also enable the company to continue to capitalize upon the North American consumers´ keen interest in wellness-related products that enable them to live a healthier lifestyle».