Kraft Foods has reached an agreement to sell its Post cereals business to Ralcorp Holdings for $1.6 billion in stock. The move is part of Kraft’s overall strategy of getting rid of non-core, slow-growth businesses.
The move slots private label manufacturer Ralcorp firmly in the branded product business, giving it the nation’s third-ranked branded cereal manufacturer.
The deal is expected to close by mid-2008.
The move slots private label manufacturer Ralcorp firmly in the branded product business, giving it the nation’s third-ranked branded cereal manufacturer.
The deal is expected to close by mid-2008.
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