ConAgra pays $100M+ for PA pretzel baker
National Pretzel sold
ConAgra pays $100M+ for PA pretzel baker
Joseph N. DiStefano
ConAgra, the Omaha-based food-processing giant that owns Chef Boyardee, Peter Pan, Snack Pack and other supermarket brands, says here that it's purchased Lancaster-based National Pretzel, which bakes private-label pretzels for chain groceries, at its bakeries in Lancaster and Hanover, PA and Visalia, Calif., from investor Michael Torporek's New York buyout firm, Brookstone Partners.
The buyer and seller didn't name a price, but a ConAgra official confirmed the total was more than $100 million, according to the Wall St Journal here. National Pretzel employs 700, including 500 in Pennsylvania, says spokesman Jeff Mochal.
Pennsylvania is home to a large concentration of potato-chip and pretzel makers. Family-run snack firms have been under pressure to consolidate as American snack consumption flattens. See for example last year's purchase of Snyder's of Hanover by North Carolina-based Lance Inc., valued at over $600 million, here; and last winter's Utz-Zappe deal here,
M&A is a fee driven cannibalization of industrial America, a job killing Wall St churning of perfectly profitable businesses that have committed the mortal sin against capitalism by employing actual Americans at a level to maintain a family and plan for the future. Wall St would monetize the sun if only they could bury it underground and charge us for drilling, refining and distribution. Expect Lancaster county pretzels to be baked in China. The ground water and soil of the input into foods from PA used to be extremely local, giving a unique and wonderful flavor to successful foods manufactured here like Hershey's chocolate. But no more, the names will be same same but the food will be coming out of the 2nd shift at a Chinese fortune cookie factory.— Fernando08- All I know is, Con Agra completely ruined Andy Capps Hot Fries.— suporma
- The Tonner also would like to add one to those who are disappointed with the new taste of Andy Capp's Hot Fries. Senseless.— hunglikeaton
haven't eaten those in years after being a staple of my childhood diet...how do you eff up a hot fry?- I was shocked to learn that Hershey milk chocolate bars are now made in Mexico and have given them up. The good news is that the dark chocolate bars are still made in Hershey, so there is an option....— CrotchetyOldMan
where do they make reese's peanut butter cups?— oliver north- Fernando - Funny that you use Hershey's as an example.. cacao cannot grow in anywhere in the US, except Hawaii (where it is not commercially cultivated). Most of it comes from Africa.. very local, no?— Politburo
- DEAR PHONY CAPITALIST LACKEY
TRY EATING COCAO FROM THE TREE. YOU NEED SUGAR AND MILK TO MAKE IT PALATABLE. WHICH IS WHY THE DAIRY COOP FARMS THAT RING THE ROADS LEADING TO HERSHEY ARE THERE. OH, MY, NO SUGAR IS GROWN LOCALLY, SO, THE SOIL, THE WATER, COWS THAT MAKE MILK CHOCOLATE A FOOD PRODUCT, AND NOT JUST A GLOBAL BEAN COMMODITY IS WHAT IS BEING DISCUSSED HERE, BUT YOU WOULD NOT KNOW THAT, TOO BUSY TRADING ON YOUR I-PHONE AND OVER SEEING YOUR SLUMLORD EMPIRE. - Big crappy agras ruin everything they buy, they use cheap substitutes for real nutrition, look at high fructose corn syrup instead of sugar, which many years ago the sugar lobby made artificially high to make corn a stupid unhealthful replacement.
Stupid is as stupid does, go, big chemical giants, we won't live much longer the way you are leading us.
I do not like the comment from the fleabagger, who has no idea how things work in a Constitutional Republic, remember, the USA never was and never should be a democracy, another name for mob rule.— LJM - Big crappy agras ruin everything they buy, they use cheap substitutes for real nutrition, look at high fructose corn syrup instead of sugar, which many years ago the sugar lobby made artificially high to make corn a stupid unhealthful replacement.Stupid is as stupid does, go, big chemical giants, we won't live much longer the way you are leading us. I do not like the comment from the fleabagger, who has no idea how things work in a Constitutional Republic, remember, the USA never was and never should be a democracy, another name for mob rule. (HTML deleted)— LJM
