ConAgra Foods Inc said it would purchase National Pretzel Co to expand its presence in private-label food manufacturing, nearly two months after it abandoned its pursuit of Ralcorp Holdings Inc .ConAgra, maker of Chef Boyardee pastas and Slim Jim meat snacks, has been trying to increase its business of manufacturing store-branded food items.It tried to acquire Ralcorp, which owns Post cereals and a large private-label business, but that company rejected ConAgra's offers. ConAgra then said it would look for other deals.Terms of the deal for National Pretzel, which is owned by Brookstone Holdings and based in Lancaster, Pennsylvania, were not disclosed.
ConAgra Foods, Inc. (ConAgra Foods) is a food company. Shares of CAG fell by 2.17% or $-0.55/share to $24.78. In the past year, the shares have traded as low as $21.02 and as high as $26.60. On average, 4598960 shares of CAG exchange hands on a given day and today's volume is recorded at 2782563.
Ralcorp Holdings, Inc. (Ralcorp) is engaged in manufacturing, distributing and marketing private-brand food products, Post brand ready-to-eat cereal products and other regional and value-brand food products in the grocery, mass merchandise, drugstore and foodservice channels. Shares of RAH traded higher by 2.1% or $1.65/share to $80.25. In the past year, the shares have traded as low as $58.41 and as high as $91.35. On average, 883534 shares of RAH exchange hands on a given day and today's volume is recorded at 112018.
Source
