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ConAgra Foods Inc., Omaha, Neb., says it has purchased Kangaroo Brands’ pita chip business. The acquisition of the pita chip business is consistent with ConAgra’s strategy to grow its presence in private-label foods. “We are pleased to add another business that further positions us for accelerated growth,” says Gary Rodkin, CEO of ConAgra Foods. “Pita chips are a high-growth category and a natural fit with ConAgra Foods’ private-label snacks business.”
Based in Milwaukee, Kangaroo Brands is a leader in private-label pita chips and generates approximately $20 million in annual revenue. The purchase includes a manufacturing facility located in Milwaukee and approximately 50 employees who joined ConAgra Foods from Kangaroo Brands. Kangaroo Brands will continue to own and market its pita bread and frozen sandwiches.
This is the fourth acquisition in the past fiscal year for ConAgra Foods, following the acquisitions of National Pretzel Co., Del Monte Canada and Odom’s Tennessee Pride.
Financial terms of the transaction were not disclosed.
Source: www.consumergoods.edgl.com, www.businesswire.com