ConAgra to Buy Tennessee Pride
ConAgra Foods Inc. in April said it agreed to acquire Odom's Tennessee Pride, a Madison, Tenn., producer of frozen and refrigerated breakfast sandwiches and sausage.
The agreement includes facilities in Little Rock, Ark., and Dickson, Tenn., and the headquarters 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.
Financial terms were not disclosed. The deal is expected to close by the end of May.
ConAgra officials said the acquisition will add frozen breakfasts to its frozen meals business. "We are excited to develop our portfolio in the growing breakfast category,” said Gary Rodkin, ConAgra CEO.
"We are proud of the business we've built over the past three generations," said Larry Odom, chairman and CEO. "We are excited to join ConAgra Foods and we look forward to being a part of their growth plans."
The proposed acquisition would be the third in the past year for ConAgra Foods, following the acquisitions of National Pretzel Co. and Del Monte Canada.