ConAgra Foods acquires pita chip business from Kangaroo Brands
Company hopes move will help private label-foods presence
ConAgra Foods, Inc. has acquired Kangaroo Brands' pita chip business, in an effort to grow its presence in private-label snacks.
Milwaukee, Wis.-based Kangaroo Brands is a leader in private-label pita chips and generates about $20 million in annual revenue.
"Pita chips are a high-growth category and a natural fit with ConAgra Foods' private label snacks business," says Gary Rodkin, ConAgra Foods ceo. "We are pleased to add another business that further positions us for accelerated growth."
The acquisition, announced Tuesday, includes a Milwaukee manufacturing facility and approximately 50 employees, who joined ConAgra Foods from Kangaroo Brands. Kangaroo Brands will continue to own and market its pita bread and frozen sandwiches.
This is the fourth acquisition in the past fiscal year for ConAgra Foods, following the acquisitions of National Pretzel Company, Del Monte Canada and Odom's Tennessee Pride.
Financial terms of the transaction were not disclosed.
ConAgra, one of North America’s leading food companies, manufacturers brands such as Banquet, Chef Boyardee, Egg Beaters, Hebrew National, Hunt's, Marie Callender's, Orville Redenbacher's, PAM, Peter Pan, Reddi-wip, Slim Jim, and Snack Pack.