Topics

Ralcorp Holdings Incorporated
Chef Boyardee owner ConAgra makes huge $6.8-billion bet
Chef Boyardee owner ConAgra makes huge $6.8-billion bet

ConAgra Foods Inc. makes some of the best-known packaged food brands around, including Chef Boyardee, Hebrew National, Hunt’s, Orville Redenbacher’s, Reddi-wip and Slim Jim. But these days, the money is in private grocery store labels, such as Safeway’s Open Nature line and Albertson’s eponymous products. With its $6.8-billion purchase of Ralcorp Holdings, the largest producer of foods under such in-store brands, ConAgra is making a play to dominate the growing market. ConAgra will give Ralcorp stakeholders $90 per share in cash, a 28.2% premium on the closing price on Monday. The $5 billion deal, which with debt assumption is valued at $6.8 billion, cleared...

Loading