ConAgra Foods Inc. announced late Tuesday that it has agreed to acquire Odom’s Tennessee Pride, the Madison-based maker of frozen and refrigerated breakfast sandwiches and sausages.
The agreement includes the purchasing of Odom facilities in Little Rock, Ark., and Dickson as well as the headquarters office in Madison. Terms of the transaction, expected to close within the next 45 days and subject to approval, were not disclosed.
Odom’s Tennessee Pride has about 750 employees and annual revenues of more than $190 million. It is the No. 2 producer of frozen breakfast sandwiches in the U.S.
“We are proud of the business we’ve built over the past three generations,” Larry Odom, chairman and CEO of Odom’s Tennessee Pride, said in a release. “We are excited to join ConAgra Foods and we look forward to being a part of their growth plans.”
The proposed acquisition will represent ConAgra’s third during the last year, following the acquisitions of National Pretzel Company and Del Monte Canada. ConAgra is based in Omaha, Neb., and is known for, among others, its Chef Boyardee, Egg Beaters, Hunt’s, Marie Callender’s, Orville Redenbacher’s and Peter Pan brands. Through the first three quarters of its current fiscal year, the company posted profits of $529 million on sales of $9.8 billion.
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