April 12, 2010
OMAHA, Neb. ConAgra Foods Inc. (NYSE:CAG) acquired Elan Nutrition, Grand Rapids, Mich., a privately-held formulator and manufacturer of snack and nutrition bars, from an affiliate of Sun Capital Partners Inc.. Financial terms of the transaction, which closed April 12, were not disclosed. The Elan Nutrition business will be managed as part of ConAgra Foods Snacks platform and integrated into its store brands private label bar business. The Elan Nutrition manufacturing facility in Grand Rapids was included in the deal and will operate as a ConAgra Foods plant; the company also intends to hire the existing Elan employees.
Acquiring Elan Nutrition allows us to continue growing and expanding our very successful snack bar business within our Consumer Foods portfolio, said Gary Rodkin, ConAgra Foods CEO. We are confident in the growth potential of this important category and expect a smooth integration of Elan Nutritions business and capabilities into our Snacks platform.
ConAgra Foods currently manufactures private label bars at its facility in Lakeville, Minn. That facility is not impacted by this acquisition and will continue to operate as normal.
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