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.
The city of St. Louis once again plans to use tax credits to keep the headquarters of a major company in downtown.
Legislation that will be introduced at the Board of Aldermen on Friday gives Ralcorp $20 million in tax credits to upgrade and expand its headquarters at 8th and Market.
St. Louis Public Radio is a service of the University of Missouri-St. Louis.