ConAgra Foods’ acquisition of the pita chip business is consistent with its strategy to grow its presence in private label foods.
Gary Rodkin, chief executive officer of ConAgra Foods, said: “Pita chips are a high-growth category and a natural fit with ConAgra Foods’ private label snacks business. We are pleased to add another business that further positions us for accelerated growth.”
Based in Milwaukee (US), Kangaroo Brands is a private label pita chips business and generates approximately $20m in annual revenue. The acquisition includes a manufacturing facility located in Milwaukee 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.
Source: ConAgra Foods
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