ConAgra Foods, Inc. (NYSE:CAG)
CAG is one of North America's leading food companies, with brands in 97 percent of America's households. CAG has agreed to acquire National Pretzel Company, based in Lancaster, Pa., from Brookstone Holdings. National Pretzel makes private label pretzels in a variety of forms, including rods, sticks, braids and twists for a variety of customers, including many of the top grocery retailers in America. Financial terms of the transaction, expected to close within 30 days and subject to customary closing conditions, were not disclosed.
?Acquiring National Pretzel Company is consistent with our strategies for growth, which include expanding our private label footprint and growing in strategic adjacencies,? said Gary Rodkin, chief executive officer of ConAgra Foods. ?National Pretzel is a leading private label manufacturer with a strong team in an attractive category. We are excited about its future growth potential and are confident we can profitably leverage our innovation and supply chain capabilities as we integrate our businesses after close of the transaction.?
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