Trident Seafoods Corp. To Acquire ConAgra Foods' Surimi Business

Omaha, NB - Trident Seafoods Corporation today announced that it has signed a definitive agreement to acquire ConAgra Foods' Motley, MN-based surimi business that serves both retail and foodservice customers and includes the Louis Kemp brand. Terms of the transaction were not disclosed. The transaction is expected to close by the end of March.

"Adding the highly regarded Louis Kemp brand, combined with the efficiencies of the people and production facility in Minnesota, will enhance Trident's efforts to expand our domestic sales of seafood and increase the value of Alaska's and the Pacific Northwest's fishery resources," said Chuck Bundrant, Trident's founder and President.

This transaction is part of ConAgra Foods' plan to drive consistent and sustainable growth by concentrating in those areas where it has the strongest competitive positions.

Trident is a seafood harvesting, processing and marketing company which produces a wide range of products, including salmon, crab, halibut, cod and pollock fillets. It also produces and markets surimi analog products, such as surimi crab and scallops.

SOURCE: Trident Seafoods Corp.