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The deal consisted of an all cash purchase price of $90.5 million, subject to adjustments for debt, cash and working capital levels at the time of closing.
21st Century Grain Processing operates two plants in the Central U.S., an oat mill in South Sioux City, Nebraska and a facility that mills wheat near Amarillo, Texas.
According to research by the Food and Drink Federation (FDF), exports in the food and drink industry have risen by 4.4 percent to 9.65 billion in 2009, a record high. This marks the fifth consecutive year of growth in this market sector.
Makers of cereal have been pushing their prices higher to bolster earnings, but at least one measure points to a drop in volumes of ready-to-eat cereal over the last year in many stores.
The product range - featuring some of the US giant's popular cartoon characters - will start with fresh fruits before expanding to include everything from yoghurt to breakfast cereals, milk and bakery
Previously Wellness Foods has bought some of Britain's best-known healthy eating products, including Rowse Honey, Grove Fresh, the organic juice company, and Fruit Bowl, the fruit snacks brand.