J & J Snack Foods to buy food business from ConAgra
J & J Snack Foods Corp. says it will acquire several frozen food lines from ConAgra Foods for an undisclosed sum.
The snack foods company said the deal includes brands such as Patio, Hand Fulls, Holly Ridge Bakery, Villa Taliano, Top Picks and private label brands that sell dough-encased frozen goods. It includes the manufacturing facilities in Hilly Ridge, N.C. and Weston, Ore.
J&J said it does not expect the new business, which generates annual revenue of roughly $50 million, to benefit its operating income in the short term.
The deal is expected to close in May.
J&J's, based in Pennsauken, N.J., sells products such as Superpretzel, The Funnel Cake Factory funnel cakes and Slush Puppie frozen drinks.
The company's shares fell 45 cents to close at $47.15 before the acquisition was announced.