you strong joining balance confident all Daniel. We had year. us. a the of Good Thanks, our performance morning. quarter Thank feel we the and for in for
XXXX. retail in strong and performance Continued and it for food to lean channel businesses our fiscal positions services incremental investment us into enabling well us
J.M. acquisition on we week, handful Pet brands the closed a Smucker. Last of Food of from
the both and this a optimistic Post to doors successful previous drove I for as from deal that have open Post thank our are closing. this transactions. exciting who to We all want Smucker will acquisition teams
and below us To X.X the the paid million to quarter to want price issue cash have who the about number Food from the the Smucker, shares in $XXX to Pet also acquisition. colleagues XXX,XXX issued. X,XXX we shares Post We transaction shares prior in repurchased an delivered acquisition I even approximately of or the Smucker. this million complete closing average of welcome joined XX% price
will change repurchases, billion adjusted capital This guidance the estimate assessment raised is share among $X.XX priorities EBITDA. assets. fiscal to $X.XX our initial no billion. five reduction allocation M&A. reflects Our the night, remain and balanced XX-month we guidance XXXX a for to balance Last opportunistically acquired to of months for our $XXX updated It the of in million of simply forward Pet debt
quarter million food shake year $XX ready-to-drink normalized of run its full estimated $XX of service the considering we shared of million $XX million to fiscal $XX sustainable the million assumes end it Recall, rate roughly rate. will commence from Moreover, over year. at the quarter roughly benefit our last performance that run before per manufacturing to
the months this is It five second includes Pet. for say the also outlook business increasing of another legacy To way, half.
If in EBITDA million $XX and for to would begin outlook. it the guidance result our $XX over, full Pet foodservice approximately account you with million of it by the revised and reduce add baseline year approximately
declined category segments. Let PCB the me Starting on cereal ready-to-eat this X% briefly with our comment quarter. U.S.
market been lapped nearly we XX.X%. has private Post quite As our Omicron at volumes X%. business prior branded Meanwhile, year grew label lift. share stable
for supported away strong as both as pricing is consumption. well by performance attractive service Food home dynamics demand from breakfast
and as consumption. with service well Our strength gains both food business in shown exceptional has potato distribution
general, constraints, supply better our to far are continue see performing last year. pockets but of in chains We labor than
two sales is a bag reasons. Refrigerated down substantial despite for mixed were Retail a of bit pricing
margin lapped low First, not and exclusion. have we its abandon business yet
to our seen private label. side build Second, dish has refrigerated is business and an down inventory lapping trade
UK operate The very well markedly improved consumers Weetabix are team environment. up pressure over year. a remain with effectively We and under are to inflationary in energy. challenging trends last this and and food chains step advertising. supply continues executed has in from a countering
has a down to Consumer private contributed label. a trade pressure
biscuit, margin provider is business, private last XX quite basis a large EBITDA of are grow label Across dilutive margins but points UFIT also We grew nicely. over the it continues year. while to small
continued expansion as cycle margin pricing versus of timing movements increases. expect We we the cost
are interesting The more a times capital likely We certainly debt of in increasing markets. in and will make in available M&A general. the the reduction in bit cost credit scarce
flexibility Post think greater with certainty as financing is favorably we closing. and a buyer However, of positioned
perspective. Our pipeline opportunity seems to of this reflect
hand, other this we expect the terminate with XX month. to deadline, On a SPAC this May
investors a SPAC As the their timing return. initial we believe but SPAC investment will before, tool, good a plus I’ve own receive said was modest corporate be terrible. to
We extend to will capabilities structure deployment succeeding. capital this continue to not ways our seek despite particular creative
over the call With turn me that, Matt. to let
