Ralcorp Holdings that it has completed the acquisition of Gelit, a producer of private-brand, frozen ready meals in Italy.
Ralcorp anticipates the transaction will deliver $0.05 of GAAP accretion and $0.07 of cash accretion to adjusted diluted earnings per share in the 12 months of ownership, excluding one-time costs.
With annual net sales of approximately $45m, Gelit manufactures and distributes a complete line of private-brand, frozen ready meals directly to retail and wholesale customers primarily located in Italy and the US.
Terms of the transaction were not disclosed.
Source: Ralcorp Holdings
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