ST. LOUIS (AP) -- Private-label food producer Ralcorp is considering selling its remaining stake in its Post cereal business.
Ralcorp Holdings Inc. completed a spinoff of Post Holdings Inc. earlier this year so that it could focus on its private-label foods business. Ralcorp has since acquired a string of smaller companies in an effort to build that core business.
Ralcorp said Thursday that it is looking to potentially sell its remaining 6.8 million shares of Post, whose cereal brands include Honey Bunches of Oats, Shredded Wheat and Raisin Bran.
Both companies are based in St. Louis.
Ralcorp shares finished at $72.18 per share on Wednesday. They are almost 20 percent below their 52-week high of $89.86 set in early February. But they have risen 21 percent from their low for the year of $59.28 on July 30.
Post Holdings finished at $29.49 on Wednesday, and they are 14 percent below their high of $34.35 set on April 2.
