Omaha, Neb.-based ConAgra Foods announced the successful completion of its acquisition of Ralcorp Holdings, St. Louis. ConAgra agreed to acquire Ralcorp on Nov. 26, 2012, for $6.8 billion (including the assumption of debt), or $90 in cash per share of Ralcorp common stock. (To read the original story regarding the announcement, click here.) The closing transaction follows the approval of the acquisition by Ralcorp’s shareholders on Jan. 29, and the receipt of all required regulatory approvals.

With 36,000 employees and sales of approximately $18 billion annually, the combined company is one of the largest packaged-food companies in North America, ConAgra said. The transaction also positions ConAgra Foods as the largest private brand packaged food business in North America, with approximately $4.5 billion in combined annual private brand sales. (Learn more about what Ralcorp and other experts believe the acquisition's pros and cons are by clicking here.)

“We are excited to have closed the transaction and welcome our talented new team members from Ralcorp to the ConAgra Foods family,” said Gary Rodkin, CEO of ConAgra. “We are now in a position to begin the most substantial aspects of integration planning and look forward to learning from and working with our new colleagues. This important acquisition reinforces and accelerates our ‘Recipe for Growth’ strategy, which also includes growth in our core business and adjacencies, and expansion internationally.”

ConAgra said it plans to communicate preliminary estimates of the benefit of the transaction on fiscal 2013 and fiscal 2014 EPS as part of its presentation to the Consumer Analyst Group of New York in February. Following the completion of its financial planning process, which will take into account the growth trajectory of the combined business and the expected pace of synergies over a multi-year period, ConAgra plans to provide investors with upwardly revised long-term EPS goals as part of its fiscal-fourth-quarter earnings release this summer.

ConAgra noted that it will continue to be headquartered in Omaha and led by Rodkin as CEO. Kevin Hunt, former Ralcorp CEO, will be a consultant to ConAgra for the next 12 months. Richard Koulouris, vice president and president of the Ralcorp Food Group, and Charles Huber, vice president and president of the Ralcorp Frozen Bakery business, will report directly to Rodkin, effective immediately. ConAgra established an integration team that is led by a steering committee of senior leaders from ConAgra and Ralcorp and staffed by a full support network of dedicated resources.