Ralcorp to Buy Post Foods

JONESBORO, AR - Ralcorp Holdings, Inc., maker of Ry-Krisp crackers and Ralston Foods cereals, has agreed to buy Kraft Foods Incorporated's Post Cereals division for a reported $2.6 billion.

Post operates a plant in Jonesboro, which opened in 1988 and employs 185 people.

The purchase of Grape Nuts, Shredded Wheat, Raisin Brand and Honey Bunches of Oats includes the assumption of $950 million of debt, St. Louis-based Ralcorp said today in a statement.