Ralcorp Holdings has announced that it has completed the purchase of cookie manufacturer Parco Foods. The terms of the transaction were not disclosed.
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Parco Foods primarily supplies instore bakeries and reported net sales of approximately US$50m for FY2005. The firm will be added to Ralcorp’s frozen bakery segment, complementing and expanding Ralcorp’s instore bakery offerings.
It is expected that for the remainder of the 2006 fiscal year the acquisition will have a minimal negative impact on earnings per share, however, by the first quarter of 2007 the transaction is expected to be accretive.
