Cereal maker Post Holdings Inc. (NYSE: POST) is set to purchase Dakota Growers Pasta Co. for $370 million as a means of diversifying its food offerings.

The St. Louis, Mo.-based company — maker of Honey Bunches of Oats, Pebbles, Shredded Wheat, Raisin Bran — agreed to buy the unit from Glencore Xstrata plc (LON: GLEN). The move comes on the heels of Switzerland-based Glencore’s $6.2 billion acquisition of Viterra Inc. in late 2012. It has since been attempting to sell off some of the subsidiaries that came with the takeover, including Dakota Growers.

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