OMAHA, NE, July 23, 2007 – ConAgra Foods, Inc. (NYSE:CAG) announced today that it has acquired New York-based Alexia Foods Inc., a privately held natural food company.
The acquisition includes the interest in Alexia Foods held by San Francisco, Calif.-based TSG Consumer Partners, LLC, a private equity investment firm, which was purchased in 2003.
Alexia Foods represents the leading natural frozen potato brand and markets all-natural and organic appetizers and artisan breads. Alexia Foods premium brands align with ConAgra Foods strategy of optimizing its portfolio and delivering innovative products that support sustainable, profitable growth.
Established in 2002 by founder and chef Alex Dzieduszycki, the Alexia brand generates approximately $35 million in annual sales of products which are available at natural, gourmet, club, and grocery stores including: Whole Foods, Sam’s Club, Costco, Super Target, Wal-Mart, Kroger, Safeway, Publix and other large retailers across the U.S. and Canada. Alexia Foods will continue to operate from its existing Long Island City, N.Y. offices under the leadership of Alex Dzieduszycki and current staff who will become ConAgra Foods employees.
"Alex’s passion for culinary creativity and expression will continue to benefit the Alexia brand and ConAgra Foods as we deliver innovative, flavorful products that are relevant to today’s consumer", said Gary Rodkin, chief executive officer of ConAgra Foods. "Alexia’s premium brands position ConAgra Foods to gain presence in the increasingly important natural and organic foods segment. In turn, Alexia will benefit from ConAgra Foods marketing and operating infrastructure."
Alex Dzieduszycki, Alexia Foods president and chief executive officer, said, "This agreement is a milestone for the Alexia brand in being able to continue our commitment to deliver premium, natural and organic products to consumers while drawing on the resources ConAgra Foods brings as a leader in the food industry."
More information on Alexia branded products is available at www.alexiafoods.com.
About ConAgra Foods
ConAgra Foods, Inc., (NYSE:CAG) is one of North America’s largest packaged food companies, serving consumer grocery retailers, as well as restaurants and other foodservice establishments. Popular ConAgra Foods consumer brands include: Banquet, Chef Boyardee, Egg Beaters, Healthy Choice, Hebrew National, Hunt’s, Marie Callender’s, Orville Redenbacher’s, PAM and many others. For more information, please visit us at www.conagrafoods.com.
ABOUT TSG CONSUMER PARTNERS LLC
TSG Consumer Partners, LLC is a leading investment firm with
approximately $5 billion of assets under management, focused
exclusively on the branded consumer sector. Since its founding
in 1987, TSG has been an active investor in the food, beverage,
restaurant, beauty, personal care, household and apparel & accessories,
and e-commerce sectors. Representative past and present partner
companies include Duckhorn Wine Company, vitaminwater, thinkThin,
popchips, Muscle Milk, Yard House, Stumptown, Pabst, Planet Fitness,
REVOLVE, PAIGE, Smashbox Cosmetics, Pureology, Sexy Hair, e.l.f. Cosmetics
and IT Cosmetics.
Meghan Gavigan / Dan Goldstein
Sard Verbinnen & Co
Meghan Gavigan - 212.687.8080
Dan Goldstein - 310.201.2040