ConAgra Foods, Omaha, Neb., reiterated its $94 per share, all-cash proposal to acquire Ralcorp Holdings, Inc., a private label products company and a leader in frozen bakery foods.

ConAgra Foods, Inc., Omaha, Neb., said that on Thursday, August 11, 2011, it sent a revised proposal to the board of directors of Ralcorp Holdings, Inc. to acquire the company for $94.00 per share in cash.

Sara Lee Corp., Downers Grove, Ill., said it expects by the end of this year to sell its North American Refrigerated Dough business to Ralcorp Frozen Bakery Products, Inc.

Private label and branded foods giant Ralcorp Holdings, Inc., St. Louis, said its board of directors unanimously determined that ConAgra Foods' unsolicited non-binding proposal of $4.9 billion "is not in the best interests of shareholders."

After it was rebuffed in private discussions, ConAgra went public to say it would like to buy Ralcorp for $86 per share in cash, or approximately $4.9 billion, plus the assumption of $2.5 billion in debt.

Supermarket retailing giant The Kroger Co., Cincinnati, said it recognized several key supplier partners for "exceptional contributions" to Kroger's private label business.

Just a few months after selling a western regional yogurt brand to General Mills, dairy giant Dean Foods, Dallas, agreed to sell its private label yogurt business and several plants.

Private equity investor Centerview Partners, Rye, N.Y., said that it purchased Richelieu Foods Inc., Randolph, Mass., for undisclosed terms from Brynwood Partners.

Frozen bakery products contributed growth to Ralcorp Holdings Inc.,St. Louis, which reported its sales and earnings for the fourth quarter and fiscal year ended Sept. 30, 2010.

Store brand products can compete with their name-brand counterparts and save shoppers more than a thousand dollars a year on grocery bills, according to a new study from Consumer Reports.