Ralcorp Holdings Inc. has completed its $545 million acquisition of the North American private brand refrigerated dough business of Sara Lee Corp., the company said on Monday, Oct. 3.

The refrigerated dough business manufactures and distributes a full range of private brand refrigerated dough products in the U.S. The acquisition is expected to boost earnings by over 50 cents per share on a cash basis, excluding one-time acquisition related expenses. The acquisition is also expected to enhance Ralcorp’s cash flow and generate operational synergies of approximately $6 million to $8 million annually after the third year, excluding one-time transition costs.

“We are pleased to complete this transaction, which enhances Ralcorp’s private-brand offerings and immediately positions Ralcorp as a leader in the $1.8 billion refrigerated dough category,” said Kevin Hunt, Ralcorp Co-CEO and president.

Ralcorp manufactures private-label cereals in Cedar Rapids.