ConAgra sells bakery firmThis article was originally published in Foodnews
NEW JERSEY-based J&J Snack Foods is to purchase a frozen dough-based snack business from ConAgra Foods for an undisclosed price. The business, which has annual sales of around USD50 million, markets frozen hand-held products under a number of brands, including Patio, Hand Fulls and Holly Ridge Bakery, as well as private label products. It has manufacturing facilities in North Carolina and Oregon. J&J said it does not expect the acquired business to contribute operating income to the company over the short term. The transaction is expected to close in May 2011, it added.