ConAgra Completes Trident Sale
The sales include the Louis Kemp plant in Motley, Minn. and the Singleton plant in Tampa, Fla. Total annual revenue for the seafood operations was about $350 million in 2005.
ConAgra Foods Completes the Sale of Its Seafood Businesses to Trident Seafoods Corp. and Singleton Fisheries, Inc.
ConAgra Foods, Inc. has completed the divestiture of its seafood businesses. The company closed the sale of its Louis Kemp surimi business to Trident Seafoods Corp. and its Singleton Seafood and Meridian Seafood along with other seafood products to Singleton Fisheries, Inc. Trident is a seafood harvesting, processing and marketing company which produces a wide range of products, including salmon, crab, halibut, cod and pollock fillets. It also produces and markets surimi analog products, such as surimi crab and scallops.
The sales include the Louis Kemp plant in Motley, Minn. and the Singleton plant in Tampa, Fla. Total annual revenue for the seafood operations was about $350 million in 2005. As a result of the transactions announced today, ConAgra Foods is out of the seafood business altogether. Terms of the sales were not disclosed.
These transactions are part of ConAgra Foods' plan to drive consistent and sustainable growth by focusing in those areas where the company has the strongest competitive positions. The company recently announced its intention to divest its cheese businesses as well as most of its refrigerated meats businesses.
