A co-extruded dual component animal food product has an outer component containing at least 60% cereal and an inner cream textured component which has water soluble components in an aqueous phase that forms a stable emulsion with a lipid free hydrocarbon phase. The hydrocarbon phase contains soluble additives. Careful stepwise addition of additives to the appropriate phases and then of the phase together ensures a stable inner component which does not leach through the outer component.