Posted by Dale Buss on November 27, 2012 02:54 PM
ConAgra Foods has finally bagged its long-sought corporate prey, announcing today its agreement to acquire Ralcorp Holdings for about $5 billion.
The companies' union — which ConAgra CEO Gary Rodkin has been trying to consummate for 20 months — will create one of the largest packaged-food companies in North America, with total combined sales of about $18 billion.
But more important, it expands ConAgra's penetration in the growing private-label market at the same time that it offers more hope for retail growth by ConAgra brands — including Chef Boyardee, Hunt's, Healthy Choice, Orville Redenbacher's and Banquet — that, while well known, tend to be second- and third-tier marques. As ConAgra's FAQ on the deal notes,
The acquisition of Ralcorp will add to ConAgra Foods’ existing $950 million private label business to create the largest private label business in North America, with approximately $4.5 billion in combined private label sales, and a strong platform for sustainable, profitable growth over the long term. The two companies’ portfolios are a complementary fit, with very little overlap in terms of offerings. Ralcorp’s leading private label offerings include cereal, pasta, crackers, jellies and jams, syrups, frozen waffles, and more.Continue reading...
Posted by Dale Buss on October 12, 2012 09:02 AM
AMC stages World Zombie Day to lobby Dish Network.
Audi contemplates minivan.
Best Buy plans to match online prices.
Bugatti goes social with its super-car brand.
Burger King seeks the next new big marketing idea.
Cadillac considers sports car.
Carrefour lifts recovery hopes.
Coca-Cola Hellenic, Greece's biggest company, quits the country.
Fila pursues Adidas market share.Continue reading...
Posted by Dale Buss on August 28, 2012 08:47 AM
5-Hour Energy and other energy-drink makers face New York state probe over ingredients and marketing.
Amazon reshapes computing with its cloud power.
Apple moves post-ruling efforts toward banning some Samsung phones from U.S. market as Korean company vows to fight, and Google looks at implications of case for its own business.
Avis drops "We Try Harder" tagline after 50 years in favor of "It's Your Space."
Axe enlists Jim Henson's shop to help with latest campaign.
Best Buy board steps to the side so founder can proceed with effort to take over company.
Boeing adds third line for Dreamliner assembly.
Bravo plans to launch another Top Chef spinoff.
Chevron marshals cash as investors wonder what energy company will do with it.
Disney sails through summer behind long-term plans.Continue reading...
Posted by Michael Waltzer on May 20, 2011 03:30 PM
If you've poked your head into Twitter and/or Facebook today, you've doubtless noted the flurry of comments on Macho Man, the nickname for professional wrestler Randy Savage, and Slim Jim.
Savage, who was killed in a car accident in Florida this morning, starred in a series of commercials for Slim Jim, the beef jerky brand in the 90's, and popularized the phrase, "Snap into a Slim Jim."Continue reading...
Posted by Dale Buss on May 4, 2011 09:00 AM
AOL struggles in first quarter, while display advertising business grew.
Chipotle hiring probe expands.
ConAgra (maker of Chef Boyardee, Slim Jim) increases bid for Post cereal owner Ralcorp.
American Airlines offers in-flight streaming to personal devices.
Apple's iPhone 5 faces delay as app revenue projected to hit $3 billion.
Applied Materials to buy Varian Semiconductor.
AT&T, Verizon and T-Mobile scrap "Isis" payment platform for mobile wallet.Continue reading...