Davis Polk is advising ConAgra Foods, Inc. on its acquisition of Ralcorp Holdings, Inc., valued at approximately $6.8 billion, including the assumption of Ralcorp debt. The agreement has been approved by the boards of directors of both companies and is subject to customary regulatory approvals. The transaction is expected to close by March 31, 2013.
ConAgra Foods is based in Omaha, Nebraska, and is one of North America’s leading food companies with brands in 97% of America’s households. Ralcorp is based in St. Louis, Missouri, and produces a variety of private-brand foods sold under the individual labels of various grocery, mass merchandise and drugstore retailers, and frozen bakery products sold to in-store bakeries, restaurants and other food service customers.
The Davis Polk corporate team includes partners Arthur F. Golden and Marc O. Williams and associates James E. Elworth, Daniel N. Borlack and Jesse Kramer. Partner Jean M. McLoughlin and associate Gillian Emmet Moldowan are providing employee benefits advice. Partner Neil Barr and associate Anthony L. Oliva are providing tax advice. Partner Ronan P. Harty is providing antitrust and competition advice. All members of the Davis Polk team are based in the New York office.
