April 3, 2006

ConAgra Foods closes sale of seafood businesses

ConAgra Inc said after the closing bell on Friday (Mar 31) it has closed the sale of its Louis Kemp surimi business to Trident Seafoods Corp, and its Singleton Seafood and Meridian Seafood operations along with other seafood products to Singleton Fisheries Inc.

Financial terms of the transactions were not disclosed.

The sales include the Louis Kemp plant in Motley, Minnesota, and the Singleton plant in Tampa, Florida. Total annual revenue for the seafood operations was about US$350 million in 2005.

As a result of the transactions, ConAgra said it is out of the seafood business altogether, as part of its previously announced divestiture plans.