Even before Shearer's Foods inked the deal for Snyder's-Lance's private label snacks in May, Shearer's had acquired Medallion Foods from ConAgra Foods in a deal valued at $33.5 million.
ConAgra acquired Medallion, which makes tortilla chips and other corn-based snack products, through its 2013 purchase of Ralcorp Holdings.
"Although ConAgra Foods believes strongly in the salty snacks category, the Medallion Foods business is not large enough within ConAgra Foods to command the resources it needs to grow," ConAgra said.
