ConAgra buys veggie producer Watts Bros.

ConAgra Foods Inc. said Monday it bought an agricultural company Watts Brothers in Washington state to strengthen its Lamb Weston brand potato business.

Financial terms of the deal for the privately-held company were not disclosed.

Watts Brothers, based in Kennewick, Wash., operates a vegetable processing business in Washington and Oregon, as well as organic dairy, fertilizer, cold storage, packaging and agricultural farming divisions.

The company, founded in 1977, generates about $100 million in annual sales to retail, foodservice and industrial customers in the U.S., Mexico, Japan, China and elsewhere in Asia, ConAgra said. Its management team and about 350 employees will be offered jobs at ConAgra's Lamb Weston division.

ConAgra Chief Executive Gary Rodkin said the deal "will strengthen Lamb Weston's position in its core Northwest growing region, providing a more stable raw material base while also strengthening the Lamb Weston supply chain."

"Additionally, Watts Brothers' strong position in vegetables will complement existing potato product sales in both existing and new markets, providing additional opportunities for sales growth," he added in a written statement.

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ConAgra buys veggie producer Watts Bros.

ConAgra buys veggie producer Watts Bros.

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