US food group Ralcorp Holdings has bought Canadian cracker makers North American Baking and J.T. Bakeries on a day of major expansion for the company.
Ralcorp, which also today (21 June) announced the US$1.2bn acquisition of pasta firm American Italian Pasta Co. (AIPC), said it had bought the two Canadian bakers for an undisclosed sum.
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North American Baking, formerly known as PL Foods, makes private-label crackers and generates annual net sales of around US$56.7m.
J.T. Bakeries, which makes private-label and co-branded “gourmet” crackers for customers in the US, Canada and the UK, enjoys annual net revenues of $38.5m.
Ralcorp co-CEO and president Kevin Hunt said: “We believe the products manufactured by both of these companies will enhance Ralcorp’s premium and gourmet cracker offerings. These transactions will allow us to continue Ralcorp’s growth strategy on our existing private-label cracker platform.”
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By GlobalData
