US private-label salty snack producer Shearer’s Foods has acquired Medallion Foods from ConAgra Foods in a US$33.5m deal.
Medallion manufactures value-brand and private-label corn-based snacks, including tortilla chips, corn chips and extruded corn products.
In an email to just-food today (22 April), a spokesperson for ConAgra said: “Although ConAgra Foods believes strongly in the salty snacks category, the Medallion Foods business was not large enough within ConAgra Foods to command the resources it needed to grow – particularly in light of the current focus on the broader Ralcorp integration. As a result, ConAgra Foods believes the Medallion Foods business will have more value under a more focused owner.”
ConAgra purchased Medallion as part of its acquisition of private-label group Ralcorp Holdings, which closed last year.