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Press release from Business Wire

ConAgra Foods Closes Acquisition of Odom's Tennessee Pride

Monday, May 14, 2012

ConAgra Foods Closes Acquisition of Odom's Tennessee Pride18:25 EDT Monday, May 14, 2012 OMAHA, Neb. (Business Wire) -- ConAgra Foods, Inc. (NYSE:CAG) announced today that it has closed its acquisition of Odom's Tennessee Pride, a leading producer of frozen and refrigerated breakfast sandwiches and sausage. The agreement to acquire Odom's Tennessee Pride was announced on April 17, 2012. The acquisition includes facilities in Little Rock, Ark., and Dickson, Tenn., and its headquarters office in Madison, Tenn. Odom's Tennessee Pride has approximately 750 employees, annual revenue in excess of $190 million, and is the second largest producer of frozen breakfast sandwiches in the U.S. About ConAgra Foods ConAgra Foods, Inc., (NYSE:CAG), is one of North America's leading food companies, with brands in 97 percent of America's households. Consumers find Banquet, Chef Boyardee, Egg Beaters, Hebrew National, Hunt's, Marie Callender's, Orville Redenbacher's, PAM, Peter Pan, Reddi-wip, Slim Jim, Snack Pack and many other ConAgra Foods brands in grocery, convenience, mass merchandise and club stores. ConAgra Foods also has a strong business-to-business presence, supplying frozen potato and sweet potato products as well as other vegetable, spice and grain products to a variety of well-known restaurants, foodservice operators and commercial customers. For more information, please visit us at Note on Forward-looking Statements This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current views and assumptions of future events and financial performance and are subject to uncertainty and changes in circumstances. We undertake no responsibility for updating these statements. Readers of this release should understand that these statements are not guarantees of performance or results. Many factors could affect our actual financial results and cause them to vary materially from the expectations contained in the forward-looking statements, including those set forth in this release. These factors include, among other things: availability and prices of raw materials, including any negative effects caused by inflation; the effectiveness of our product pricing, including any pricing actions and promotional changes; future economic circumstances; industry conditions; our ability to execute our operating and restructuring plans; the success of our innovation, marketing, and cost- saving initiatives; the competitive environment and related market conditions; operating efficiencies; the ultimate impact of any product recalls; our success in efficiently and effectively integrating acquisitions; access to capital; the amount and timing of repurchases of our common stock, if any; actions of governments and regulatory factors affecting our businesses, including the Patient Protection and Affordable Care Act; and other risks described in our reports filed with the Securities and Exchange Commission. We caution readers not to place undue reliance on any forward-looking statements included in this release, which speak only as of the date of this release. ConAgra FoodsMEDIA:Dan Hare, 402-240-5274daniel.hare@conagrafoods.comorINVESTORS:Chris Klinefelter, Vice President, Investor Relations,