Packaged food giant, ConAgra Foods, is buying St. Louis-based food producer Ralcorp for $4.95 billion. The buyout will make ConAgra the top producer of store-branded foods in the U.S
ConAgra’s stable of brands include the likes of Chef Boyardee, Egg Beaters, and Reddiwhip, to name a few. The deal creates a packaged food giant with $18 billion in annual sales
Erin Lash is Sr. Analyst at Morningstar. She says Ralcorp has struggled recently in the face of increased manufacturing and distribution costs, as well overall tightening of the marketplace.