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Ralcorp history
Ralcorp company history timeline
After enduring a difficult fiscal 1992, Ralston initiated some cost-cutting measures and other strategies to support its stock price.
In 1992, RHM acquired Sunstar Foods for its Red Wing subsidiary, a deal that brought with it a major plant in Streator, Illinois.
A plan was approved by Ralston's board of directors in September 1993, the new entity to be called Ralcorp Holdings.
All told, the businesses posted revenues of $902.8 million and net profits of $42.6 in fiscal 1993 (ended on September 30). Cereal provided the lion's share of sales, nearly $550 million, with the unbranded private-label cereal showing strong growth.
In 1994, the human food business was spun off to Ralcorp Holdings, operating as Ralston Foods, which then sold its branded breakfast cereal lineup to General Mills and its Continental Baking division (Wonder Bread and Twinkies) to Interstate Bakeries.
It they elected to slash prices on their cereals, Ralcorp faced a very serious challenge. It sold most of its interests in ski resorts, then in August 1996 announced that it was selling its Chex line of branded cereals and snacks to General Mills.
COMPANY NEWSRALCORP TO ADD WORTZ TO PRIVATE-LABEL CRACKER UNITRalcorp Holdings Inc to buy Wortz Co, maker of store-brand crackers and cookies; will add Wortz to its Bremner Inc unit (S)By Bloomberg NewsMarch 18, 1997
To help finance this expansion into private labels, Ralcorp sold Beech-Nut Nutrition Corporation in 1998 for $68 million in cash.
Krusteaz frozen products (acquired from Continental Mills in 1999 by Bakery Chef)
In 1999, the company continued its buying spree, adding Southern Roasted Nuts, a private label snack nut company, and Ripon Foods, a private label and branded cookie company.
Ralcorp to Close a PlantRalcorp Holdings Inc, maker of store-brand crackers and cereal, will close Baltomore mayonnaise factory in January and dismiss its 195 employees to reduce costs (S)By Bloomberg NewsJuly 25, 2000
Ralcorp continued to build its portfolio of private label food producers in 2000.
The most significant acquisition in 2000, and the tenth in just three and a half years, was The Red Wing Company, Inc., a $132.5 million deal.
Carriage House Created in 2000
Ralcorp soon added to Carriage House in January 2001 when it completed the $55.6 million acquisition of the wet products portion of The Torbitt & Castleman Company, LLC, a division with $80 million in annual sales.
The situation appeared to grow even worse in November 2002 when Carriage House experienced a strike at its Fredonia and Dunkirk facilities following stalled contract talks with Local Union No.
Lofthouse Foods (acquired 2002)
In fiscal 2002, the subsidiary generated sales of $451.5 million and contributed $13.5 million in profits to its corporate parent.
Bakery Chef (acquired 2003)
Despite the adverse impact of a troubled economy in 2003, Carriage House appeared well positioned in the long run to become an even larger player in its private label niche.
Cottage Bakery (acquired 2006)
In late 2007, Ralcorp signed an agreement with Kraft Foods to acquire the Post Cereals brands, thus returning to the major branded cereal business.
The acquisition was completed August 4, 2008.
DealBookConAgra May Have to Go Hostile After Ralcorp Rejects OfferThe bid made on Wednesday is 32 percent above Ralcorp’s stock price in March, when ConAgra made its first takeover move.By Adrienne CarterMay 4, 2011
On November 27, 2012 ConAgra officials announced they were purchasing Ralcorp, pending Ralcorp shareholder approval, for approximately $4.95 billion.
Under pressure from Jana Partners, the food giant moves to essentially unwind its 2012 takeover of Ralcorp.
The acquisition was completed in January 2013.
The remainder of the purchase price was financed under the Company's revolving credit facility." The rumor of the deal was first broke in October 2015.
^ "TreeHouse Foods Frozen - Home". Archived from the original on 2015-04-27.
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Ralcorp competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Remington Outdoor Company, Inc. | 1816 | $865.1M | 3,000 | - |
| Latex Foam International | 1975 | $1.4M | 50 | - |
| Coats North America Consolidated Inc | 1984 | $13.0M | 50 | - |
| Unilever | 1872 | $55.1B | 155,000 | 266 |
| Sara Lee Foods LLC | 2004 | $1.0M | 50 | - |
| Pactech Packaging | 1993 | $31.0M | 50 | - |
| Huffy | 1892 | $77.0M | 106 | - |
| Mgp Ingredients | 1941 | $703.6M | 672 | 28 |
| SunOpta | 1973 | $1.3B | 1,800 | 41 |
| Lamson & Sessions | 2007 | $430.0M | 1,281 | - |
Ralcorp history FAQs
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Ralcorp may also be known as or be related to Ralcorp, Ralcorp Frozen Bakery Products and Ralcorp Frozen Bakery Products Inc.