National Pretzel Co. is actuality acquired by ConAgra Foods for an bearding price.
National Pretzel, with address at 2060 Old Philadelphia Pike, has about 270 advisers here, additional plants in Hanover and Visalia, Calif.
A private-label manufacturer, National Pretzel makes pretzels in a array of forms, including rods, sticks, braids and twists.
It barter accommodate above bazaar chains.
Gary Rodkin, ConAgra’s arch controlling officer, declared National Pretzel as a baton “with a able aggregation in an adorable category.”
“We are aflame about its approaching advance potential,” he said Friday in a able account announcement the deal.
The transaction is accepted to be completed in 30 days.
While ConAgra did not acknowledge the price, a ConAgra agent told The Wall Street Journal that the amount exceeded ConAgra’s $103 actor acquirement of Elan Nutrition aftermost year.
ConAgra has been targeting private-label aliment companies afresh because budget-conscious consumers are added axis to their products.
ConAgra, based in Omaha, Neb., has customer and bartering segments that amalgamate to accomplish anniversary sales beyond $12 billion.
National Pretzel, which additionally sells articles beneath the HK Anderson and Shultz labels, posts anniversary sales of about $200 million.
Sales accept been growing at an anniversary blow of 7 percent over the accomplished three years.
Its three locations accumulated accept added than 700 employees.
The bounded plant, ahead accepted as Anderson Bakery, has roots activity aback to 1888.
The armpit has had abundant owners over the years. It now is endemic by Brookstone Holdings.
In ConAgra, it will accept an buyer that is amid the better aliment companies in North America.
ConAgra brands accommodate Banquet, Chef Boyardee, Egg Beaters, Orville Redenbacher’s, Peter Pan, Reddi-wip and Slim Jim.
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