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ConAgra To Acquire Del Monte Canada For Undisclosed Amount

DOW JONES NEWSWIRES ConAgra Foods Inc. (CAG) agreed to acquire Del Monte Canada Inc. from an affiliate of private equity firm Sun Capital Partners Inc., as the packaged food company looks to grow its core businesses and improve its international presence. Financial terms weren't disclosed. The deal includes the acquisition of all Del Monte branded packaged fruit, fruit snacks and vegatable products in Canada as well as Aylmer tomato products. Chief Executive Gary Rodkin said the deal will also help the company grow its position in North American tomato products, expand its vegetable product line and add packaged fruit and fruit snacks to its portfolio. Del Monte Canada had about $150 million in revenue in fiscal 2011. ConAgra is hoping to make a bigger splash in the private-label arena, where it sees more growth potential. After failing to acquire Ralcorp Holdings Inc. (RAH), a large private-label company that makes ready-to-eat food and snacks, ConAgra is hunting for acquisitions in the space. It recently bought a private-label pretzel maker for $300 million. Last month, ConAgra said fiscal second-quarter earnings fell 14% after being hit with hedging losses, and said its consumer-foods unit was hurt by rising commodities costs. Shares rose by 9 cents to $26.94 in recent trading. The stock is up 17% in the past 12 months. -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287;

Stock News for Conagra Food (CAG)
02/11/201613:20:45Amended Statement of Ownership (sc 13g/a)
02/10/201610:19:19Amended Statement of Ownership (sc 13g/a)
02/05/201607:32:07Amended Current Report Filing (8-k/a)
02/02/201617:00:00ConAgra Foods, Inc. Announces Cash Tender Offer for $1.4 Billion...
02/01/201616:09:22Current Report Filing (8-k)
02/01/201616:05:00ConAgra Foods Completes Sale of Private Label Operations to TreeHouse...
02/01/201616:01:00TreeHouse Foods Completes the Acquisition of ConAgra's Private...
01/20/201616:35:27Current Report Filing (8-k)
01/19/201609:00:00The Ultimate Winter Menu: Chef Billy Parisi, Feast of Fiction...
01/18/201617:05:00ConAgra Targets 100 Percent Cage-Free Egg Supply By 2025
01/14/201617:30:00TreeHouse Lifts Earnings Forecast
01/11/201608:00:00Hunt’s® Launches Organic Offerings
01/08/201616:31:25Statement of Changes in Beneficial Ownership (4)
01/08/201616:27:27Statement of Changes in Beneficial Ownership (4)
01/07/201617:29:00TreeHouse Foods, Inc. Announces Expiration of HSR Waiting Period...
01/07/201617:03:30Statement of Changes in Beneficial Ownership (4)
01/06/201608:00:00Banquet® Brings More Value to the Table with Updates and Enhancements...
12/30/201520:20:00DOJ Investigating Blue Bell Creameries Response to Listeria Contamination
12/29/201517:57:05Statement of Changes in Beneficial Ownership (4)
12/29/201516:50:51Statement of Changes in Beneficial Ownership (4)

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