Ralcorp Holdings Announces the Acquisition of North American Baking Ltd. and J.T. Bakeries Inc.
These transactions will allow us to continue Ralcorp's growth strategy on our existing private-label cracker platform.
23 Jun 2010 --- Ralcorp Holdings, Inc. announced that it has acquired North American Baking Ltd., formerly known as PL Foods Ltd., a leading manufacturer of premium private label specialty crackers in North America with annual net sales of approximately US$56.7 million. North American Baking will continue its operations in Georgetown, Ontario (near Toronto).
In a separate transaction, Ralcorp acquired J.T. Bakeries Inc., a leading manufacturer of high quality private label and co-branded gourmet crackers in North America for customers in the U.S., Canada and Great Britain with annual net sales of approximately US$38.5 million. J.T. will continue its operations in Kitchener, Ontario (South West Ontario).
Both of these transactions were completed on May 31, 2010 and are part of the company's Snacks, Sauces & Spreads segment.
Ralcorp anticipates the transactions will be slightly accretive during the remainder of its 2010 fiscal year. Terms of the transactions were not disclosed.
Kevin J. Hunt, Co-Chief Executive Officer and President of Ralcorp Holdings, Inc., said, "We welcome the North American Baking and J.T. Bakeries management teams and employees to the Ralcorp family. We believe the products manufactured by both of these companies will enhance Ralcorp's premium and gourmet cracker offerings. These transactions will allow us to continue Ralcorp's growth strategy on our existing private-label cracker platform."
