Ralcorp Holdings completes purchase of Medallion Foods
Medallion Foods, Inc., is a leading manufacturer of value brand and private label corn- based chips and extruded corn products.
24/06/05 Ralcorp Holdings, Inc. has announced that it has completed the purchase of Medallion Foods, Inc., a leading manufacturer of value brand and private label corn- based chips and extruded corn products. Medallion had net sales of $42.8 million for the year ended December 31, 2004. For the remainder of the fiscal year, Ralcorp estimates the transaction will add $.01 to diluted earnings per share. That estimate assumes approximately $2 million annually in non-cash amortization of acquired intangibles. Medallion and its management team will continue operations at its headquarters in Newport, Arkansas where it employs approximately 270 people.
Ralcorp produces a variety of store brand foods that are sold under the individual labels of various grocery, mass merchandise and drug store retailers, and frozen bakery products that are sold to restaurant and food service customers. Ralcorp's diversified product mix includes: ready-to-eat and hot cereals; crackers and cookies; snack nuts; chocolate candy; salad dressings; mayonnaise; peanut butter; jams and jellies; syrups; sauces; frozen griddle products including pancakes, waffles, and French toast; frozen biscuits; and other frozen pre-baked products such as breads and muffins. In addition, Ralcorp holds an interest of approximately 21 percent in Vail Resorts, Inc., the leading mountain resort operator in the United States.
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