Seeking to expand its breakfast portfolio, ConAgra Foods will buy Odom's Tennessee Pride, a producer of refrigerated and frozen breakfast sandwiches and sausage.
Seeking to expand its breakfast portfolio, Omaha, Neb.-based ConAgra Foods Inc. will buy Odom's Tennessee Pride, a producer of refrigerated and frozen breakfast sandwiches and sausage.
The agreement includes Odom's facilities in Little Rock, Ark., and Dickson, Tenn., and its headquarters office in Madison, Tenn. Odom's Tennessee Pride employs about 750 people and raked in more than $190 million in annual revenue.
The transaction is expected to close within the next 45 days and subject to customary closing conditions. Terms of the sale were not disclosed.
"The acquisition of Odom's Tennessee Pride will build on our strong position in frozen meals and allow us to leverage our existing innovation, marketing and distribution abilities," says Gary Rodkin, chief executive officer for ConAgra. "We are excited to develop our portfolio in the growing breakfast category."
"We are proud of the business we've built over the past three generations," says Larry Odom, chairman and CEO of Odom's Tennessee Pride. "We are excited to join ConAgra Foods, and we look forward to being a part of their growth plans."
ConAgra Purchases Odom's Tennessee Pride
April 18, 2012