ConAgra Makes Second Acquisition of Summer

9/11/2007

ConAgra Foods Inc. has acquired Chicago-based Lincoln Snacks, a privately-held manufacturer of the Poppycock and Fiddle Faddle popcorn snack brands as well as various private label products. Lincoln Snacks generates approximately $45 million in annual sales of products that are available at all major grocers and large national retailers across the

United States

and internationally.

For ConAgra, the deal marks its second acquisition completed this summer. In July 2007, ConAgra acquired New York-based Alexia Foods Inc., a privately-held natural food company that markets all natural and organic appetizers and artisan breads. The Alexia brand generates approximately $35 million in annual sales of products that are available at natural, gourmet, club, and grocery stores.

Both acquisitions align with ConAgra Foods' strategy of optimizing its portfolio to continue sustainable, profitable growth.

"This acquisition positions ConAgra Foods to further meet consumer demand for snacks," says Gary Rodkin, chief executive officer of ConAgra Foods. "We plan to grow Poppycock and Fiddle Faddle through our marketing expertise and operating infrastructure, and we're pleased to welcome the brands into the ConAgra Foods portfolio."

Lincoln Snacks' Lincoln, Nebraska-based manufacturing facility will continue to produce the two brands. The brands will report up through ConAgra Foods' Snack Foods operation headquarters in Edina, Minn.