Foster Farms to acquire
two foodservice brands
Jun 13, 2009 2:05 PM
Family-owned Foster Farms has reached an agreement to purchase the Fernando’s and El Extremo foodservice brands from ConAgra Foods. Financial terms of the deal have not been disclosed.
The Fernando’s brand is one of the original foodservice, frozen Mexican brands and dates back to 1982. It offers a full line of authentic Mexican entrees and appetizers ready to heat and serve. El Extremo is also a foodservice, frozen Mexican brand and serves the school-lunch program distribution channel.
“This acquisition is a strategic fit for Foster Farms,” said Ron Foster, Foster Farms’ president and chief executive officer, “and will give us capabilities to expand our current businesses in the foodservice, retail, and C-store channels.”
A manufacturing facility in Compton CA was included in the sale. The plant is used exclusively to produce handheld Mexican products under the Fernando’s and El Extremo labels and will remain operational.
ConAgra Foods and Foster Farms have agreed to a transition service agreement to manage the order entry, warehousing, and delivery of Fernando’s and El Extremo products and to provide sales support during the transition period.
“Our shared goal is for this transition to be as seamless as possible for customers, and they will continue to receive uninterrupted service,” said Foster.
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