- ConAgra agreed to buy Ralcorp Holdings Inc. for $4.95 billion Tuesday, paying shareholders and assuming debt in a deal that the company says is worth a total of $6.8 billion.
- The deal, which is expecreates one of North America's largest foodmakers, MarketWatch reports, with the combined company expected to have $18 billion in annual sales and upwards of 36,000 employees.
- ConAgra Foods will also be well positioned as the biggest private label packaged food business in North America.
From the article:
"... 'Adding Ralcorp provides us with a much larger presence in the attractive and growing private label segment and accelerates our Recipe for Growth strategy,' ConAgra Chief Executive Gary Rodkin said. 'The transaction will allow us to apply our scale and combined operational expertise to this important growth area, and will strengthen our position as one of the leading food companies in North America.' ..."