News Summary: ConAgra in $5B deal for Ralcorp

News Summary: ConAgra agrees to pay $5 billion for store brand foodmaker Ralcorp

Associated Press

THE DEAL: ConAgra Foods Inc. is paying $5 billion to acquire Ralcorp Holdings Inc., a deal that makes ConAgra the nation's biggest maker of store brand foods.

THE WHY: ConAgra CEO Gary Rodkin notes that private label foods have been growing at twice the rate of name brand foods over the past 13 years, and now represent 18 percent of the overall packaged food market.

THE HISTORY: It's the latest bid for Ralcorp by ConAgra, which makes Banquet, Chef Boyardee and Marie Callender's. ConAgra made multiple bids for Ralcorp last year as well.

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