ConAgra Cuts Line on Seafood Biz
OMAHA, Neb. -- ConAgra Foods, Inc. here has completed the divestiture of its seafood businesses, which includes its Louis Kemp surimi business to Trident Seafoods Corp., and its Singleton Seafood and Meridian Seafood along with other seafood products to Singleton Fisheries, Inc.
The deals include the Louis Kemp plant in Motley, Minn. and the Singleton plant in Tampa, Fla. Total annual revenue for the seafood operations was about $350 million in 2005. As a result of the transactions, ConAgra Foods is out of the seafood business altogether. Terms of the sales were not disclosed.
As previously reported, the transactions are part of ConAgra Foods' plan to drive consistent and sustainable growth by focusing in those areas where the company has the strongest competitive positions. The company recently announced its intention to divest its cheese businesses as well as most of its refrigerated meats businesses.
Trident is a seafood harvesting, processing and marketing company which produces a wide range of products, including salmon, crab, halibut, cod and pollock fillets. It also produces and markets surimi analog products, such as surimi crab and scallops.
Singleton Fisheries, Inc., is a privately held company with an ownership group with extensive experience in the seafood business.
The deals include the Louis Kemp plant in Motley, Minn. and the Singleton plant in Tampa, Fla. Total annual revenue for the seafood operations was about $350 million in 2005. As a result of the transactions, ConAgra Foods is out of the seafood business altogether. Terms of the sales were not disclosed.
As previously reported, the transactions are part of ConAgra Foods' plan to drive consistent and sustainable growth by focusing in those areas where the company has the strongest competitive positions. The company recently announced its intention to divest its cheese businesses as well as most of its refrigerated meats businesses.
Trident is a seafood harvesting, processing and marketing company which produces a wide range of products, including salmon, crab, halibut, cod and pollock fillets. It also produces and markets surimi analog products, such as surimi crab and scallops.
Singleton Fisheries, Inc., is a privately held company with an ownership group with extensive experience in the seafood business.