US-based ConAgra Foods has completed the acquisition of Ralcorp, a manufacturer of private label food products in the US, for $6.8bn.
The completion of the deal follows approval of the acquisition by Ralcorp's shareholders and the receipt of all required regulatory approvals.
The acquisition has created one of the largest packaged food companies in North America, with combined workforce of more than 36,000 and annual sales expected to be approximately $18bn.
It also positions ConAgra Foods as a leading private label packaged food business in North America, with sales of about $4.5bn.
ConAgra Foods chief executive officer Gary Rodkin said that the acquisition reinforces and accelerates the company's 'Recipe for Growth' strategy, which also includes growth in core business and adjacencies, and expansion internationally.
ConAgra Foods will continue to be headquartered in Omaha, Nebraska, and headed by chief executive officer Gary Rodkin. The former CEO of Ralcorp, Kevin Hunt, will be a consultant to ConAgra Foods for the next 12 months.
Ralcorp produces private label products such as ready-to-eat and hot cereals; nutritional and cereal bars; crackers and cookies; food service, frozen griddle products and biscuits; food service and breads, rolls and muffins.
ConAgra Foods produces a wide range of food products including cooking oil, frozen dinners, hot cocoa, hot dogs, peanut butter and many others under Hunt's, Healthy Choice, Marie Callender's, Slim Jim brands among others.
