Posted by Dale Buss on November 27, 2012 02:54 PM
ConAgra Foods has finally bagged its long-sought corporate prey, announcing today its agreement to acquire Ralcorp Holdings for about $5 billion.
The companies' union — which ConAgra CEO Gary Rodkin has been trying to consummate for 20 months — will create one of the largest packaged-food companies in North America, with total combined sales of about $18 billion.
But more important, it expands ConAgra's penetration in the growing private-label market at the same time that it offers more hope for retail growth by ConAgra brands — including Chef Boyardee, Hunt's, Healthy Choice, Orville Redenbacher's and Banquet — that, while well known, tend to be second- and third-tier marques. As ConAgra's FAQ on the deal notes,
The acquisition of Ralcorp will add to ConAgra Foods’ existing $950 million private label business to create the largest private label business in North America, with approximately $4.5 billion in combined private label sales, and a strong platform for sustainable, profitable growth over the long term. The two companies’ portfolios are a complementary fit, with very little overlap in terms of offerings. Ralcorp’s leading private label offerings include cereal, pasta, crackers, jellies and jams, syrups, frozen waffles, and more.Continue reading...
Posted by Dale Buss on May 4, 2011 09:00 AM
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AT&T, Verizon and T-Mobile scrap "Isis" payment platform for mobile wallet.Continue reading...
Posted by Shirley Brady on March 21, 2011 04:00 PM
Last fall, a quartet of Hollywood actors — Matt Damon, Ben Affleck, Ana Ortiz and Taye Diggs — donated their talents to promote Feeding America's work in keeping food flowing to more than 200 food banks.
Now ConAgra is also stepping up, expanding a commitment that began last year by increasing its donation, to up to 2.5 million meals, to Feeding America's child hunger program.Continue reading...