ConAgra Foods Acquires David Sunflower Seeds Business
Date Posted: December 21, 2001
OMAHA, NE--ConAgra Foods, Inc. (NYSE: CAG) today announced that it has purchased the David & Sons sunflower seeds and snack business from Nestle USA, Inc., a subsidiary of Swiss-based Nestle S.A.
Terms of the transaction were not disclosed.
David & Sons produces sunflower seeds and related snacks sold primarily through the retail and convenience channel under the David's brand.
Products include a full variety of in-shell and kernel sunflower seeds, as well as pumpkin seeds and toasted whole kernel corn snacks.
Marty Thrasher, president and chief operating officer, ConAgra Retail Food Products Company, said, "This acquisition is a good strategic fit as the consumer and customer bases for David's products parallels those within a variety of our snack businesses.
"The addition of the David's brand to our high growth snack portfolio of Orville Redenbacher's and Act II popcorn plus Slim Jim and Pemmican meat snacks is very exciting."
Brad Alford, president, Nestle Confections & Snacks Division, said, "Nestle is committed to maintaining a leadership role in confections around the world.
"Upon careful review of our U.S. Confections & Snacks portfolio, we determined that it is best to focus our efforts and resources on the long-term growth of our core businesses."
David's two manufacturing facilities, which are included in the transaction, will continue to operate in Fresno, CA, and St. Louis, MO, with existing employees.