DOW JONES NEWSWIRES ConAgra Foods Inc. (CAG) acquired the pita-chip business of privately owned Kangaroo Brands, expanding its presence in the private-label space and continuing an acquisition spree of smaller food companies. According to ConAgra, the leader in private-label chips generates about $20 million in annual revenue. The Milwaukee-based family-owned baker, will continue to own and market its lines of pita breads, and frozen sandwiches. Financial terms of the deal weren't disclosed. ConAgra recently completed its acquisition of Odom's Tennessee Pride, the second-largest maker of frozen breakfast sandwiches in the U.S., for an undisclosed amount. ConAgra shares were up 7 cents at $25.22 in recent trading. The stock is down 4.4% this year, trailing the broader market. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; Tess.Stynes@dowjones.com
