ConAgra Puts Meat Businesses on Block

NEW YORK - Feb 3/06 - SNS -- ConAgra Foods Inc. plans to sell most of its refrigerated meats businesses, including the Armour, Butterball, and Eckrich brands.

The combined annual sales for the businesses being offered for sale are about $1.9 billion. The businesses include Armour meats and hot dogs, Butterball turkey, and Eckrich smoked sausages, hot dogs and lunchmeats. These processed meat products are sold to retail grocers, delis, restaurants and other foodservice establishments.

Luis Nieto, president, Packaged Meats and Deli, will continue to lead the combined meats business during the sale process, which is expected to take 10-12 months. The company said it expects no problems meeting custoemr needs druing the transition to new ownership.

Neither the company's Healthy Choice brand of meat, nor its Hebrew National, Brown 'N Serve, Slim Jim, and Pemmican businesses are included in the assets for sale. Last week Smithfield Foods, Inc., signed a definitive agreement to acquire substantially all of the assets of the company's Cook's ham business.