Ralcorp completes acquisition of Gelit

By The Associated Press

Tuesday, June 19, 2012

ST. LOUIS (AP) — Ralcorp Holdings Inc. announced Monday that it has completed its acquisition of an Italian food maker, Gelit Srl.

The financial terms of the deal were not disclosed.

Ralcorp, which makes an array of generic or store-brand foods, said the deal combines the power of two private-label food makers and expands its pasta business.

Gelit, with annual revenue of roughly $45 million, makes private-brand, frozen meals for retail and wholesale customers in the U.S. and Italy. It will operate as part of Ralcorp's American Italian Pasta Co. division.

Shares of Ralcorp, which is based in St. Louis, increased 74 cents to $65.09 in midday trading Monday.

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