ConAgra Sells Dried Vegetable Unit To Olam For $250M

Law360, New York (June 8, 2010, 1:43 PM EDT) -- ConAgra Foods Inc. has sold off its Gilroy Foods & Flavors dehydrated and vegetable product unit to Singaporean agricultural processor Olam International for $250 million.

The deal, announced Monday, continues ConAgra's push to divest itself of its noncore operations, the company said.

“As our past portfolio changes have demonstrated, transactions like these, along with our capital allocation discipline, have allowed us to concentrate our resources behind the highest-opportunity areas of our company,” ConAgra CEO Gary Rodkin said in announcing the deal. “Olam's global leadership in food...
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