ConAgra acquires Chinese potato processor
|ConAgra's acquisition of TaiMei Potato Industry expands the company's operations of Lamb Weston frozen potato products in China.
OMAHA — ConAgra Foods, Inc. has acquired TaiMei Potato Industry Ltd., Shandu, Inner Mongolia, for $93 million. The acquisition will expand ConAgra’s Lamb Weston operations in a market that is experiencing growing demand for frozen potato products, according to the company.
“We’ve been doing business in China and throughout Asia for more than 25 years, leading the way in market development and expansion,” said Greg Schlafer, president of Lamb Weston. “TaiMei is ConAgra Foods’ first potato processing facility in China, and we are confident they’ll help to accelerate our strong growth in Asia.”
Established in 2010, TaiMei is located in one of the largest potato growing regions in China. The plant provides Lamb Weston the ability to make frozen potato products closer to its expanding customer base and meet the growing demand for frozen potato products in Asia.
“Our focused expansion in China is truly customer-centric,” said Gary Rodkin, chief executive officer of ConAgra Foods. “We’re leveraging our deep industry experience to develop in-country supply capabilities for our major quick-service restaurant chains and other strategic customers. Our customers have aggressive growth plans in China, and by adding ConAgra Foods’ operations in China, we will be better able to support their plans.”