OMAHA, NE -- ConAgra Foods Inc. has acquired the private-label pita chip business of Kangaroo Brands Inc., consistent with its strategy to grow its presence in private label foods. Terms of the deal were not disclosed.
Kangaroo Brands generates about $20 million in annual revenue. The deal includes a Milwaukee manufacturing facility and roughly 50 employees who will join ConAgra. Kangaroo Brands will continue to own and market its pita bread and frozen sandwiches.
"Pita chips are a high-growth category and a natural fit with ConAgra Foods' private label snacks business," said ConAgra chief executive Gary Rodkin.
This is the fourth acquisition in the past fiscal year for ConAgra, following its purchases of National Pretzel Co., Del Monte Canada and Odom's Tennessee Pride.
ConAgra is one of the country's largest food companies with such brands as Chef Boyardee, Orville Redenbacher's and Slim Jim.