ConAgra To Buy Two Quaker Oats Businesses
OMAHA, Neb. (AP) _ ConAgra Inc. said Tuesday it has agreed to buy Quaker Oats Co.’s Van Camp’s canned beans and Wolf Brand chili businesses for an undisclosed sum.
Annual sales of the two businesses are about $180 million.
Omaha-based ConAgra, a diversified food company, said it intends to operate the businesses as part of Hunt Foods Co., an independent operating company of ConAgra’s Hunt-Wesson Inc. The acquisition requires regulatory approval.
Philip B. Fletcher, ConAgra’s chairman and chief executive, said the businesses ``dovetail exceptionally well with our grocery products sales and distribution systems and packaging technology.″
``Most of the ingredients for Van Camp’s and Wolf Brand products are available inside ConAgra,″ he said.