ConAgra Foods has acquired the US private label pita chips business from Kangaroo Brands for an undisclosed sum.
The US food giant said the purchase, announced yesterday (22 May), is consistent with its strategy to grow its presence in private label foods.
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“Pita chips are a high-growth category and a natural fit with ConAgra Foods’ private label snacks business,” said Gary Rodkin, CEO of ConAgra Foods. “We are pleased to add another business that further positions us for accelerated growth.”
This is the fourth acquisition for ConAgra in the past fiscal year, following the purchases of National Pretzel Company, Del Monte Canada and Odom’s Tennessee Pride.
The acquisition includes a manufacturing facility located in Milwaukee and around 50 employees who have joined ConAgra Foods from Kangaroo Brands.
Based in Milwaukee, Kangaroo Brands generates around US$20m in annual revenue. Kangaroo Brands will continue to own and market its pita bread and frozen sandwiches brands.
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By GlobalData
