ConAgra Foods Inc. has agreed to acquire Odom’s Tennessee Pride, a producer of frozen and refrigerated breakfast sandwiches and sausage. The agreement includes facilities in Little Rock, Ark., and Dickson, Tenn., and its headquarters office in Madison, Tenn. Odom’s Tennessee Pride has approximately 750 employees, annual revenue in excess of $190 million, and is the second largest producer of frozen breakfast sandwiches in the United States. Financial terms of the transaction, expected to close within the next 45 days and subject to customary closing conditions, were not disclosed.
Fitting with the company’s strategy of expanding into high-growth adjacencies, the acquisition of Odom’s Tennessee Pride would build ConAgra Foods’ capabilities in frozen breakfasts, a key adjacency to its frozen meals business.
“The acquisition of Odom’s Tennessee Pride will build on our strong position in frozen meals and allow us to leverage our existing innovation, marketing, and distribution abilities,” said Gary Rodkin, CEO of ConAgra Foods. “We are excited to develop our portfolio in the growing breakfast category.”