ST. LOUIS — Ralcorp Holdings officially has turned its Post Foods cereal business into a tax-free spinoff to Ralcorp shareholders.
The deal, which was announced in July 2011, allows Ralcorp shareholders to hold shares of two stand-alone, publicly traded companies: Ralcorp and Post Foods. Now its own separate business, Ralcorp said it will produce private-label foods in the United States and also become a major producer of foodservice products.
"I am excited to announce the completion of this spinoff and the beginning of a new chapter for Ralcorp. Going forward, Ralcorp will be able to place even greater focus on expanding our private-brand market positions and driving the best possible performance for our businesses," Ralcorp president and CEO Kevin Hunt said. "We believe the separation unlocks value for shareholders and best positions both Ralcorp and Post for future success."