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 November 27, 2012 09:06 AM
Aston Martin draws bids.
ConAgra to buy Ralcorp in huge packaged-foods deal.
Nintendo sells out Wii U in first week in US.
Adidas features celebs including Snoop Lion, other celebrities in Ebenezer Scrooge holiday campaign.
Airbus jabs Boeing with "Pinocchio nose" in ad campaign.
Barnes & Noble updates holiday wish lists via Nook campaign.
Bombardier signs largest-ever deal, with VistaJet.
Ericsson files patent claim against Samsung.
Mario Batali expands restaurant empire to Boston.Continue reading...
Posted by Dale Buss on February 21, 2012 09:00 AM
Amazon's brand value soars 32% in Interbrand's 2012 Best Retail Brands report.
Apple's iPad challenger Proview is open to a settlement as Apple extends checks on Chinese suppliers. Apple also signed China Telecom as second iPhone seller.
Cabela's expands and rolls out smaller-store format.
Coca-Cola sponsors teen parties in Tanzania.
FedEx may be eyeing TNT Express.
Ford signals moderate growth and expansion in China.
Gap teams with fashion bloggers for Be Bright global launch.Continue reading...
Posted by Dale Buss on January 9, 2012 09:01 AM
Archie Comics celebrates gay marriage in new cover.
Bristol-Myers to buy Inhibitex for $2.5 billion.
CBS introduces all-new CBS This Morning show.
Cadillac unveils ATS small sedan as import-fighter at Detroit Auto Show, which signals a turnaround for the industry.
Chick-fil-A cuts calories in kids' meals.
CES loses clout as tech-industry platform.
Current TV and Keith Olbermann make up following election coverage dispute.
Denny's promotes healthier media options.
Disney marketing head MT Carney departs.
Dow sponsorship of London 2012 Olympics continues to raise hackles.Continue reading...
Posted by Dale Buss on December 2, 2011 09:04 AM
American Airlines parent AMR bankruptcy could foist huge losses on key creditors.
Apple co-founder Steve Jobs honored with exhibition highlighting his patents and trademarks.
AT&T blasts federal critique of T-Mobile deal, as AT&T, Sprint and T-Mobile deal with Carrier IQ privacy concerns.
Barnes & Noble continues to struggle financially with digital transition.
Chili's drives menu changes and sales with retrofit.
Disney raises dividend to highest level in 20 years.
Fiat closes plant as European demand falls.
GM offers to buy back Volt from owners.Continue reading...
Posted by Dale Buss on September 20, 2011 08:59 AM
Amazon launches YoYo portal for kids toys.
American Express buys virtual currency monetization platform for $30 million.
Angry Birds is poised to expand as Rovio works with Starbucks and other brands to expand footprint.
Apple's stock closes at all-time high.
Braun announces theme for 2012 BraunPrize.
CNN opens first CNN Cafe, in Seoul.Continue reading...
Posted by Shirley Brady on September 13, 2011 07:02 PM
BMW, Audi, Mercedes-Benz and Porsche hit Frankfurt Auto Show with luxury cars retooled for younger generation, while Maserati brings Jeep-based SUV to Frankfurt.
ConAgra sets deadline for Ralcorp.
Cracker Barrel's new CEO outlines her plan amidst shareholder battle.
Dr. Oz shakes apple juice industry to the core.
eBay hit by criminal probe over use of Craigslist information.
Heineken-sponsored private concert in Brooklyn by Kanye West released by Vevo.
Ikea dispels death of Billy (bookcase) rumors.
KFC Australia pulls campaign claiming free range chickens.
Lady Gaga releases second in series of "fashion films" on YouTube.Continue reading...
Posted by Dale Buss on August 15, 2011 09:00 AM
World markets are in a new danger zone, head of World Bank says, but the markets notched solid gains early on Monday.
AOL finds content growth comes at a cost
BNY Mellon accused of favoritismin Florida suit.
CNBC gets a bounce from covering stock-market ills.
Dick’s Sporting Goods supports concussion testing of high-school athletes.
Google to buy Motorola Mobility in largest acquisition.
Lowe’s cuts view of prospects.
Ralcorp rejects latest takeover bid by ConAgra.Continue reading...