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ConAgra Foods buys TaiMei Potato Industry

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Staff writer ▼ | July 15, 2014
ConAgra Foods has acquired TaiMei Potato Industry Limited, a potato processor in Shangdu, Inner Mongolia.
ConAgra Foods
ConAgra FoodsConAgra Foods has acquired TaiMei Potato Industry Limited, a potato processor in Shangdu, Inner Mongolia.


This acquisition expands ConAgra Foods’ Lamb Weston operations in a market that has growing demand for frozen potato products. Lamb Weston makes a variety of frozen potato, sweet potato and other vegetable products for restaurants, retailers and foodservice operators in more than 100 countries around the world.

The purchase price of $93 million will not impact the company's previously discussed debt reduction plans in fiscal 2015 and will further its growth internationally.

TaiMei is located in one of the largest potato growing regions in China. The facility provides Lamb Weston the ability to make frozen potato products closer to its expanding customer base and meet the growing demand for frozen potato products in Asia. TaiMei’s approximately 340 employees joined ConAgra Foods Lamb Weston upon close of the transaction.


 

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