Ralcorp buying pasta maker, offers glum outlook

Monday, June 21, 2010 | 3:58 p.m. CDT; updated 5:21 p.m. CDT, Monday, June 21, 2010

ST. LOUIS — Food maker Ralcorp Holdings Inc. said Monday it has agreed to buy American Italian Pasta Co. for about $1.2 billion and has acquired two cracker makers.