ConAgra Foods Acquiring Generic Pita Chip Maker
ConAgra Foods is continuing its recent string of acquisitions by purchasing a private label pita chip business.
The Omaha-based maker of Healthy Choice, Chef Boyardee, Banquet, Orville Redenbacher and other branded foods says acquiring Kangaroo Brands' pita chip business will help it grow.
Terms of the deal were not disclosed when it was announced Tuesday, but ConAgra says Kangaroo Brands' chip business generates about $20 million in annual revenue.
ConAgra will add about 50 employees and a manufacturing plant in Milwaukee as part of the deal.
This will be the fourth acquisition in the past year for ConAgra after the National Pretzel Company, Del Monte Canada and Odom's Tennessee Pride.
ConAgra also became the majority owner of India's Agro Tech Foods last year after Ralcorp Holdings rejected ConAgra's takeover offers.
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