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ConAgra Foods Acquires Blake’s All Natural Foods

ConAgra Foods, Inc., (NYSE: CAG) announced today that it has acquired Blake’s All Natural Foods, a rapidly-growing, family-owned company which makes natural and organic frozen meals, including pot pies, casseroles, pasta dishes and other entrees.

“Natural and organic food has clearly earned a place in American households, and we will continue to make the same meals that the Blake family has made for people over four generations.”

Sean Connolly, ConAgra Foods’ chief executive officer, said, “We are thrilled to have Blake’s All Natural Foods join ConAgra Foods. Blake’s is a great addition to our existing frozen meals business and provides more choices to a growing group of people buying natural and organic foods. ConAgra Foods will help Blake’s grow and offer its wholesome food to more people across the country.”

ConAgra Foods has a broad portfolio of brands in the frozen foods aisle, including Alexia®, Healthy Choice®, Marie Callender’s®, Banquet®, Kid Cuisine®, Bertolli®, Odom’s Tennessee Pride® and P.F. Chang’s®.

“Blake’s is really excited to join the ConAgra Foods team as it will allow us to build on the momentum we’ve created over several years and continue to meet the growing demand for our meals,” said Chris Licata, president and chief executive officer of Blake’s All Natural Foods. “Natural and organic food has clearly earned a place in American households, and we will continue to make the same meals that the Blake family has made for people over four generations.”

Blake’s All Natural Foods has approximately 60 employees based in Concord, N.H. Licata will continue to lead the Blake’s business from its headquarters in Concord.

Blake’s is one of the fastest growing natural and organic frozen food brands. According to IRI data, the natural and organic frozen single-serve meals category grew by more than 33 percent between 2011 and 2015.

Terms of this all-cash deal were not disclosed. This transaction has no impact to ConAgra Foods’ previously communicated debt reduction commitments for fiscal 2015.

About ConAgra Foods
ConAgra Foods, Inc., (NYSE: CAG) is one of North America’s largest packaged food companies with branded and private branded food found in 99 percent of America’s households, as well as a strong commercial foods business serving restaurants and foodservice operations globally. Consumers can find recognized brands such as Banquet®, Chef Boyardee®, Egg Beaters®, Healthy Choice®, Hebrew National®, Hunt’s®, Marie Callender’s®, Orville Redenbacher’s®, PAM®, Peter Pan®, Reddi-wip®, Slim Jim®, Snack Pack® and many other ConAgra Foods brands, along with food sold by ConAgra Foods under private brand labels, in grocery, convenience, mass merchandise, club and drug stores. Additionally, ConAgra Foods supplies frozen potato and sweet potato products as well as other vegetable, spice, bakery and grain products to commercial and foodservice customers. ConAgra Foods operates ReadySetEat.com, an interactive recipe website that provides consumers with easy dinner recipes and more. For more information, please visit us at www.conagrafoods.com.

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