Cereal Maker Buying Bob Evans Farms

Cereal maker Post is buying New Albany-based Bob Evans Farms for 1.53 billion dollars. Bob Evans Farms makes refrigerated potato, pasta and frozen convenience food items under a number of brand names. Post says the purchase will strengthen its position in packaged foods. Bob Evans also has a foodservice business. The sale is expected to close in the second quarter of next year, if Bob Evans' shareholders approve the deal.