ConAgra Foods Acquires Frontera, Red Fork and Salpica Brands
September 26 2016 - 02:00PM
Business Wire
ConAgra Foods, Inc., (NYSE: CAG) announced today that it has
acquired the packaged foods businesses of Frontera Foods, Inc. and
Red Fork LLC, including the Frontera, Red Fork and Salpica brands.
These businesses make authentic, gourmet Mexican food and
contemporary American cooking sauces. Terms of the transaction were
not disclosed.
Frontera’s premium salsa, sauces, snacks and meals feature the
distinct flavors of Mexico. Red Fork is known for its premium
American cooking sauces and Salpica is a unique Tex-Mex salsa
line.
“We are excited to add the Frontera, Red Fork and Salpica brands
to our portfolio. In particular, the Frontera brand is a preeminent
gourmet Mexican food brand in North America. We believe it provides
a tremendous platform off which we can build,” said Sean Connolly,
president and chief executive officer of ConAgra Foods.
Founding Chef Rick Bayless says, "In ConAgra, we’ve found people
who respect our integrity and uncompromising standards. We will
continue to make high-quality food with the same standards of
excellence and operate with the same values and fresh ingredients
that have helped the business to become the premium brands they are
today. This is the start of a new era for Frontera, Salpica and Red
Fork, and we are thrilled.”
Frontera Foods CEO Manny Valdes says, “Frontera has grown
through a passion for innovation and hard work. We have made a
difference in the American grocery store and the American home. We
believe ConAgra is a fantastic partner to help us deliver the same
level of authentic, gourmet food products to even more homes across
the country.”
Founders Rick Bayless and Manny Valdes will continue to actively
support the business.
The acquisition does not include any restaurant assets,
including Frontera-branded restaurants.
About ConAgra Foods
ConAgra Foods, Inc., (NYSE: CAG), is one of North America's
leading packaged food companies with recognized brands such as
Marie Callender's®, Healthy Choice®, Slim Jim®, Hebrew National®,
Orville Redenbacher's®, Peter Pan®, Reddi-wip®, PAM®, Snack Pack®,
Banquet®, Egg Beaters®, Hunt’s® and many other ConAgra Foods brands
found in grocery, convenience, mass merchandise and club stores.
ConAgra Foods also has a strong business-to-business presence,
supplying frozen potato and sweet potato products as well as other
vegetable products to a variety of well-known restaurants,
foodservice operators and commercial customers. For more
information, please visit us at www.conagrafoods.com.
About Frontera Foods
Chef Rick Bayless, owner of the highly-acclaimed Frontera Grill,
Topolobampo and Xoco restaurants in Chicago, established Frontera
Foods in 1996 with partner and CEO Manny Valdes. Today, the company
makes more than 50 regional Mexican food products using premium
ingredients and time-honored cooking methods.
Frontera products are handmade from fresh ingredients.
Frontera’s Chipotle Salsa, made from fresh fire-roasted tomatillos,
roasted garlic, onions and chipotle chiles, introduced this country
to the true flavor of smoky chipotle chiles. It won a Sofi Award in
1998 and remains a top seller.
Frontera produces a wide variety of gourmet Mexican products
including salsas, taco skillet sauces, slow cook sauces, enchilada
sauces, marinades, chili mixes, guacamole mixes, hot sauces and
Non-GMO Project Verified stone-ground corn tortilla chips. Frontera
products are available nationally through gourmet, specialty and
natural food stores. The website www.fronterakitchens.com features
recipes for gourmet Mexican meals made easy.
In 2010, Frontera launched the first-ever, fresh-packed
seasoning sauces in convenient 8-ounce pouches for quick and easy
skillet tacos, fajitas and enchiladas. The skillet taco seasoning
sauces were quickly followed by gourmet Mole Sauce, Barbacoa
Slow-Cook Sauce and Carnitas Slow-Cook Sauce in the innovative
8-ounce pouch packaging.
Frontera received two 2011 Sofi Award nominations for the Key
Lime Cilantro Taco Skillet Sauce and the seasonal Chipotle Pumpkin
Salsa. In 2016, Frontera received a Sofi nomination for Frontera
Beef Barbacoa Slow Cook Sauce.
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ConAgra Foods, Inc.MEDIA: Kristine
Mulford312-549-5522kristine.mulford@conagrafoods.comorINVESTORS:
Johan Nystedt312-549-5002ir@conagrafoods.com
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