Ralcorp Completes American Italian Pasta Acquisition

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August 3, 2010

Ralcorp Holdings completed its $1.2 billion acquisition of American Italian Pasta Co., which now makes the Kansas City-based pasta company is a wholly-owned subsidiary.

St. Louis-based Ralcorp announced its plans to acquire AIPC June 21, offering $450 million in notes in an underwritten public offering earlier this month to help finance the deal. AIPC stocks ceased trading on NADAQ July 28.

Kevin Hunt

"We believe this combination further strengthens our position as a diversified provider of private label and branded food products," said Kevin Hunt, co-chief executive officer and president of Ralcorp.

Ralcorp is the largest producer of private label foods in the U.S. with revenues of $3.9 billion, and AIPC is on of the largest manufacturers of dry pasta in North America.

"Through this acquisition, we have gained a complementary business with the number one position in private label dry pasta," David Skarie, co-chief executive officer and president of Ralcorp, said. "AIPC is an important addition to Ralcorp, and we intend to continue to invest in the combined business for sustainable and profitable growth."

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