Post Holdings (POST) said Friday that it has agreed to sell the pasta business of its 8th Avenue Food & Provisions unit to Richardson US Holdings.

The agreement states that Richardson will pay $375 million in cash and assume about $80 million in leaseback financial liabilities, Post said.

The deal is expected to close in fiscal Q1 of next year, Post said.

Following the sale of the pasta business, Post said it plans to integrate 8th Avenue's nut butters, fruit and nut products, and granola businesses into its consumer brands segment.

Post said it expects the nut butters, fruit and nut products, and granola businesses to generate $45 million to $50 million in adjusted Ebitda in fiscal 2026.

Post also said Friday that it has approved a new $500 million share repurchase program, which may begin the same day.