|RE: LNCE -Just maybe at a later date CAG will want a Brand name pretzel maker & snack foods division.|
UPDATE 1-ConAgra to buy private-label pretzel maker
Fri Nov 11, 2011 12:52pm EST
* ConAgra to buy National Pretzel for undisclosed amount
* Deal boosts its presence in private-label
* ConAgra shares down 2.2 percent
Nov 11 (Reuters) - ConAgra Foods Inc said it would buy National Pretzel Co to expand its presence in private-label food manufacturing, nearly two months after it abandoned its pursuit of Ralcorp Holdings Inc .
ConAgra, maker of Chef Boyardee pastas and Slim Jim meat snacks, has been trying to increase its business of manufacturing store-branded food items.
It tried to acquire Ralcorp, which owns Post cereals and a large private-label business, but that company rejected ConAgra's offers. ConAgra then said it would look for other deals.
Terms of the deal for National Pretzel, which is owned by Brookstone Holdings and based in Lancaster, Pennsylvania, were not disclosed.
ConAgra shares were down 55 cents, or 2.2 percent, at $24.78 on the New York Stock Exchange.