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Catching up is hard to do

July 18, 2011

Ralcorp Holdings Inc. is splitting up its Post Foods cereal and private-label food businesses, throwing a curveball into ConAgra Foods Inc.'s attempt to buy the entire company it's ($4.9 billion offer was rejected in May), reports The Wall Street Journal. A source said the spinoff would allow Ralcorp or Post to be sold without the tax burden ... The Kerry Group, Kerry, Ireland, has entered into discussions with Cargill to acquire Cargill's flavor business, reports Food Business News. "Kerry is a leading global food ingredients and flavors provider and a leader in development and delivery of consumer preferred taste solutions," said Stan McCarthy, CEO of the Kerry Group. "The acquisition of Cargill Flavor Systems would again advance Kerry's capability to provide unrivalled innovative integrated customer solutions across all food and beverage end-use-markets and extend the Group's market spread in emerging markets." ... Dean Foods Co. will divest the Waukesha, Wis. milk processing plant, additional assets and the Golden Guernsey brand name it acquired from Foremost Farms Cooperative USA in April 2009 in a settlement with the U.S. Department of Justice. The D.O.J. had filed an antitrust lawsuit in early 2010 challenging the acquisition. In addition, Dean Foods also agreed to notify the D.O.J. before it makes any future acquisition of milk processing plants with a purchase price of more than $3 million ... Over the past 75 years, Krispy Kreme Doughnuts won a fanatical following with one product: sinfully sugary doughnuts, served warm, reports Bloomberg Business Week. That's about to change. CEO James Morgan plans to add healthier products -- oatmeal, yogurt, and fruit juice -- to the Krispy Kreme menu ... Hostess Brands Inc. says lemon meringue will be next year's filling for Hostess Twinkies ... Starbucks has rolled out healthy grab-and-go boxes with healthy options such as sesame noodles, salumi and cheese and chipotle chicken wraps ... Baskin-Robbins has introduced Mini Cones across its outlets in the U.S. They come in customizable packs of 16, which can be mixed-and- matched with any combination of Baskin-Robbins flavors ... Comedy Central is teaming with Frito-Lay to create Cheesy Poofs, a real version of the cartoon snack enjoyed by characters on the 15-year-old "South Park" show, reports The New York Times. They will be sold at Wal-Mart stores and given away at a "South Park" booth at Comic-Con International in San Diego July 21 to 24 ... According to an article in The New York Times, geese at New York City airports will be rounded up and shipped to Pennsylvania to be cooked as meals for the poor. The initiative is aimed at avoiding accidents to plane engines during takeoff.