Gelit acquired by Ralcorp
Ralcorp has bought Gelit.
Italian frozen ready meals producer Gelit has been acquired by Ralcorp Holdings.
Business negotiations between the brands determined the final terms of the transaction, but these were not publically disclosed.
Gelit has more than 130 full-time staff and is located in Cisterna di Latina, which is an estimated 30 miles to the south-east of Rome.
The brand had annual net sales reaching around $45 million (£28.7 million) and has a product line consisting of pastas, sauces and varieties, including fish and meat, as well as crepe entrees.
It will now form part of the American Italian Pasta Company division of Ralcorp.
"We believe this combination further strengthens our position as a diversified provider of private-brand foods and adds numerous strategic benefits to our pasta platform," chief executive officer and president of Ralcorp Kevin Hunt said.
In the second fiscal quarter of 2012, Ralcorp reported a 16 per cent growth in net sales, including a base-business increase of seven per cent.
Posted by Edel Quinn
Source: Ralcorp press release, June 18th