Company Overview of Michael Foods Group, Inc.
Michael Foods Group, Inc. is engaged in the production and distribution of food products. It operates in three divisions: Egg Products, Refrigerated Potato Products, and Cheese and Other Dairy Case Products. The Egg Products division produces, processes, and distributes various egg products, including ultrapasteurized, extended shelf-life liquid eggs, egg white-based egg products, and hardcooked and precooked egg products; and frozen, liquid, and dried products that are used as ingredients in other food products, as well as organic and cage free egg products. This division markets its products under the Better ’n Eggs, All Whites, Papetti’s, Abbotsford Farms, Inovatech, Excelle, Trilogy, Emu...
301 Carlson Parkway
Minnetonka, MN 55305
Key Executives for Michael Foods Group, Inc.
Senior Vice President of Operations and Supply Chain
Compensation as of Fiscal Year 2014.
Michael Foods Group, Inc. Key Developments
Michael Foods Group, Inc. Reports Unaudited Consolidated Earnings Results for First Quarter Ended March 29, 2014
May 8 14
Michael Foods Group, Inc. reported unaudited consolidated earnings results for first quarter ended March 29, 2014. Net sales for the quarter ended March 29, 2014 were $474 million, compared to $484.3 million in 2013, a decrease of 2.1%. Net earnings for the quarter ended March 29, 2014 were $1.7 million, compared to $14.2 million in 2013. Earnings before interest, taxes, depreciation, amortization and other adjustments for the quarter ended March 29, 2014 were $48.2 million, compared to $67.2 million in 2013. Operating profit was $24,475,000 against $43,940,000 a year ago. Earnings before income taxes and equity in losses of unconsolidated subsidiary were $2,741,000 against $21,740,000 a year ago.
Michael Foods Group, Inc. Provides Earnings Guidance for the First Quarter Ended March 29, 2014
Apr 17 14
Michael Foods Group, Inc. provided earnings guidance for the first quarter ended March 29, 2014. For the quarter, the company's net sales are expected to be $474 million. Earnings before interest, taxes, depreciation, amortization ("BITDA) and other adjustments (adjusted EBITDA) are expected to be approximately $48 million.
Post Holdings Reportedly Agrees To Acquire Michael Foods Group
Apr 17 14
Post Holdings, Inc. (NYSE:POST) agreed to acquire Michael Foods Group, Inc., from Goldman Sachs Group, Merchant Banking Division, in a $2.5 billion deal, reported Bloomberg citing people with knowledge of the matter. The deal may be announced as soon as April 18, 2014, said two people, asking not to be identified discussing private information. One of the person said that the $2.5 billion deal includes the value of Michael Food’s debt. One of the people said that Goldman Sach’s private-equity arm will reap a more than 260% gain on the sale. Andrew Williams, a spokesman for Goldman Sachs, declined to comment to Bloomberg on the agreement. Brad Harper, a spokesman for Post, didn’t reply to an e-mail seeking comment by Bloomberg.
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April 17, 2014