ConAgra Foods has acquired the packaged foods businesses of Frontera Foods and Red Fork for undisclosed amounts to expand its portfolio.
The acquisition includes the Frontera, Red Fork and Salpica brands. However, Frontera-branded restaurants and other restaurant assets have been excluded from the deal.
Frontera’s brands are Mexican-flavored salsa, sauces, meals and snacks. On the other hand, Red Fork’s brands are American cooking sauces.
Frontera Foods has another product Salpica, a salsa product range made of a blend of Mexican and Texas flavours.
ConAgra Foods president and chief executive officer Sean Connolly said: “We are excited to add the Frontera, Red Fork and Salpica brands to our portfolio. In particular, the Frontera brand is a pre-eminent gourmet Mexican food brand in North America. We believe it provides a tremendous platform off which we can build.”
Both the founders of Frontera Foods chef Rick Bayless and CEO Manny Valdes will continue to work on its products which have now come under the ConAgra management.
Bayless said: “We will continue to make high-quality food with the same standards of excellence and operate with the same values and fresh ingredients that have helped the business to become the premium brands they are today.”
Headquartered in Chicago, ConAgra Foods is a packaged foods company which has brands like Slim Jim meat snack sticks, Reddi-wip whipped cream, Banquet frozen meals and snacks, and ACT II popcorn in its portfolio.
In June, ConAgra Foods Lamb Weston and its Netherlands-based partner Meijer Frozen Food announced to form a new joint venture to cater to the Russian market.
