ConAgra Foods to acquire sausage processor
April 17, 2012
by Keith Nunes
OMAHA, NEB. – ConAgra Foods, Inc. plans to acquire Odom’s Tennessee Pride, a sausage processor and breakfast sandwich manufacturer. Terms of the acquisition were not disclosed and the agreement is subject to customary closing conditions.
The transaction includes Odom’s headquarters in Madison, Tenn., and facilities in Little Rock, Ark., and Dickson, Tenn. Odom’s has annual sales of $190 million, and ConAgra Foods said the acquisition will strengthen its position in the frozen breakfast category.
“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,” said Gary Rodkin, chief executive officer of ConAgra Foods. “We are excited to develop our portfolio in the growing breakfast category.”
Odom’s Tennessee Pride currently sells its products in the south, from Florida to Virginia, in the Midwest, and as far west as Arizona. The company’s distribution does not penetrate the Northeast or West coast.
Three quarters of the company’s sales are in retail and the rest are in food service.