Shearer’s Foods, which is owned by Toronto-based private equity firm Wind Point Partners, has purchased the assets of Medallion Foods from Omaha, Neb.-based ConAgra Foods for $33.5 million. Medallion Foods, which is based in Newport, Ark., produces value-brand and private-label, corn-based snack foods, including tortilla chips, corn chips and extruded corn products. ConAgra acquired Medallion Foods as part of its purchase of Ralcorp Holdings Inc. in early 2013. Ralcorp bought Medallion Foods in June 2005 for $101.8 million.
"Although ConAgra Foods believes strongly in the salty snacks category, the Medallion Foods business is not large enough within ConAgra Foods to command the resources it needs to grow," ConAgra reports.
Source: www.globalaginvesting.com, www.thecitywire.com
