ConAgra acquires Saroni Sugar & Rice

Saroni Sugar & Rice Inc., a leading food ingredients distributor, was acquired by ConAgra Foods Food Ingredients, a subsidiary of ConAgra Foods Inc. Transaction terms were not disclosed.

McGladrey Capital Markets LLC initiated the transaction, sourced the buyer, led the negotiations and acted as exclusive financial advisor to Saroni. Irvine-based Palmieri, Tyler, Wiener, Wilhelm & Waldron LLP acted as the legal advisor to Saroni. McGrath North Mullin & Kratz, PC LLO acted as lead deal counsel for the buyer.

About Saroni

Founded in 1906 and based in Oakland, Calif., Saroni is a distributor and reseller of an array of food ingredients and bulk edible oils primarily to industrial customers. The company's high quality product offerings stretch across 20 food categories, largely centered around sugar, starch, flour, shortening and vegetable oils.

 

As the recognized and dominant ingredients distributor serving Northern and Central California, as well as Hawaii, Saroni has multidecade relationships with many of the largest suppliers in the world. Saroni's customer base is well diversified, with none of its 400 customers representing more than 4 percent of its annual revenues. ConAgra Foods Food Ingredients Company, based in Omaha, Neb., manufacturers and provides ingredients to the food industry.

About ConAgra Foods Food Ingredients, a subsidiary of ConAgra Foods, Inc.

ConAgra Foods Food Ingredients operates as a subsidiary of ConAgra Foods Inc. (NYSE:CAG), a Fortune 200 company. ConAgra offers branded, private label and customized food products such as meals, entrees, condiments, sides, snacks, and desserts across frozen, refrigerated, and shelf-stable temperature classes to customers operating in the retail and foodservice channels.

Its principal brands include Angela Mia, ACT II, Banquet, Blue Bonnet, Chef Boyardee, DAVID, Egg Beaters, Healthy Choice, Hebrew National, Hunt's, Kid Cuisine, LaChoy, Libby's, Manwich, Marie Callender's, Orville Redenbacher's, PAM, Parkay, Rosarita, Slim Jim, Reddi-Wip, The Max, Ro*Tel, Snack Pack, Swiss Miss, VanCamp, andWesson.