ST. LOUIS (AP) — Ralcorp Holdings Inc. has completed its acquisition of cookie company Petri Baking Products Inc., the food maker said on Wednesday. Terms of the deal were not disclosed.
Petri makes and distributes private-brand cookies. Ralcorp, which spun off its Post cereals business earlier this year, says the transaction will complement its existing cookie offerings.
Ralcorp expects the buyout will add 8 cents per share to its adjusted earnings during the first year of ownership, removing one-time costs.
Petri, based in Silver Creek, N.Y., has more than 240 employees. The company will become part of Ralcorp's snacks, sauces and spreads division.
Ralcorp is based in St. Louis.
