OMAHA, Neb – 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 brand1 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.
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
TSG Consumer Partners pioneered the use of private equity in high-growth, middle market branded consumer companies, and has maintained this focus since inception, with nearly a 20-year track record. The fund has generated top quartile returns on all realized branded consumer investments over four funds, and has developed a team of professionals with an unmatched breadth and depth of expertise that works closely with managements to build leading companies and strong brands. With approximately $1.5 billion in capital under management, TSG has invested in such brands as Terra Chips, Glaceau VitaminWater, NV Perricone, Smashbox Cosmetics, PureOlogy, Smart Balance, Meguiar's, Famous Amos, MET-Rx and Mauna Loa Macadamia Nuts.
