Kraft agrees to sell Post cereals to Ralcorp

first_img 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! CHICAGO – Kraft Foods Inc. agreed to sell its two dozen Post cereals to Ralcorp Holdings Inc. Thursday in a nearly $1.7billion stock deal that will make the private-label food maker a major player in the cereal market. The acquisition, expected to be completed in mid-2008, catapults the maker of store-brand cereal into the No.3 position behind industry leaders Kellogg Co. and General Mills Inc. “This acquisition is indeed a watershed event for Ralcorp,” said Kevin Hunt, the St. Louis-based company’s co-CEO. But industry observers said Ralcorp faces an uphill battle to foster, market and develop brand-name cereals such as Spoon Size Shredded Wheat, Raisin Bran, Honeycomb and Pebbles. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREStriving toward a more perfect me: Doug McIntyre “I don’t recall a branded company being able to run private label or a private label being effectively able to run brands,” Deutsche Bank analyst Eric Katzman said. The tax-free transaction will boost Ralcorp’s 2007 sales by 50percent to $3.3billion a year from $2.2billion, with Post cereals accounting for about 32percent of total annual sales.last_img read more


first_imgLetterkenny General Hospital’s Coffee Dock restaurant is to close this Friday.The restaurant, which is used by hundreds of patients, visitors and staff on a daily basis, is currently directly managed by the hospital.However Donegal Daily understands that the restaurant may be franchised out to another company to run. It is believed the move is part of further cost-cutting measures by hospital management.It is not known if the restaurant will be closed during any changeover.Staff who currently work at the Coffee Dock will be integrated into other positions at the hospital.There is speculation as to who will take over the running of the restaurant. One source at the hospital has suggested it could be taken over by the Friends of the Hospital group.Another source claims that staff at The Vestry restaurant on the St Conal’s campus may take over the running of the restaurant.Despite the completion of the €24 million new hospital wing, there are no new canteen facilities. IS COFFEE DOCK LATEST CASUALTY OF HOSPITAL CUTBACKS? was last modified: September 12th, 2012 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window) Tags:Coffee DockLetterkenny General Hospitalrestaurantlast_img read more