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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)
10/06/201514:46:27Quarterly Report (10-q)
10/05/201517:00:43Statement of Changes in Beneficial Ownership (4)
10/05/201516:59:17Statement of Changes in Beneficial Ownership (4)
10/05/201516:56:15Statement of Changes in Beneficial Ownership (4)
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10/01/201507:39:59Amended Current Report Filing (8-k/a)
10/01/201507:30:00ConAgra Foods Announces $300 Million Efficiency Plan, Establishes...
09/29/201517:13:22Current Report Filing (8-k)
09/29/201512:25:00David Biegger Named Chief Supply Chain Officer of ConAgra Foods
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09/24/201508:06:00Healthy Choice Steams-up the Frozen Aisle with Simply Café Steamers
09/22/201520:00:00ConAgra Foods Swings to a Loss on Charges from Private-Label...
09/22/201515:06:00ConAgra Foods Swings to a Loss on Charges from Private-Label...

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