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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; nathalie.tadena@dowjones.com

Stock News for Conagra Food (CAG)
DateTimeHeadline
11/28/201608:00:00Iconic Comfort Food Brand Announces The Dining Room by Marie...
11/21/201617:47:41Statement of Changes in Beneficial Ownership (4)
11/18/201617:03:00Initial Statement of Beneficial Ownership (3)
11/15/201617:18:34Current Report Filing (8-k)
11/15/201612:44:00Conagra Brands Celebrates America Recycles Day with Zero Waste...
11/11/201616:45:00Conagra Brands Announces Appointment of Craig P. Omtvedt to Its...
11/11/201609:00:00Marie Callender's Partners With Habitat for Humanity on Comforts...
11/10/201617:24:18Current Report Filing (8-k)
11/10/201607:30:00ConAgra Foods Completes Spin-off of Lamb Weston Business and...
11/03/201618:26:00Lamb Weston Set to Join the S&P Midcap 400; Ascena Retail Group...
11/02/201612:41:00Frontera Culinary Director JeanMarie Brownson Expands Role with...
10/27/201614:07:00ConAgra Foods Shares Progress on Sustainability and Citizenship...
10/13/201614:30:00ConAgra Foods Announces Details of Conagra Brands Investor Day...
10/11/201607:30:00ConAgra Foods Announces Record Date and Distribution Date for...
10/07/201615:30:00ConAgra Foods Announces Details of Lamb Weston Investor Day Audio...
10/05/201608:03:00Bertolli® Studies How Italians And Americans Really Eat
10/04/201614:33:10Quarterly Report (10-q)
09/29/201609:51:00U.S. Hot Stocks: Hot Stocks to Watch
09/29/201609:30:00ConAgra Revenue Slips as Spinoff Remains On Target
09/29/201607:37:15Current Report Filing (8-k)

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