Ralcorp completes acquisition of Italian pasta company
Ralcorp Holdings has completed its acquisition of Italian private label frozen meal maker Gelit for an undisclosed sum.
Gelit manufactures and distributes private label frozen ready meals to retail and wholesale customers primarily in Italy and the United States. The Cisterna di Latina, Italy-based company has annual net sales of about $45m and employs more than 130 full-time staff.
CEO and president of Ralcorp Kevin Hunt said: "We believe this combination further strengthens our position as a diversified provider of private-brand foods and adds numerous strategic benefits to our pasta platform."
The business will operate as part of Ralcorp's American Italian Pasta Company division, Ralcorp said.
