Shares of ConAgra Foods Inc (NYSE:CAG) ended Monday session in red amid volatile trading. The shares closed down -0.51 points or -1.18% at $43.04 with 3.32 million shares getting traded. Post opening the session at $43.38, the shares hit an intraday low of $43.02 and an intraday high of $43.54 and the price vacillated in this range throughout the day. The company has a market cap of $18.89 billion and the numbers of outstanding shares have been calculated to be 439.35 million shares.
ConAgra Foods Inc (CAG) on September 26, 2016 announced that it has acquired the packaged foods businesses of Frontera Foods, Inc. and Red Fork LLC, including the Frontera, Red Fork and Salpica brands. These businesses make authentic, gourmet Mexican food and contemporary American cooking sauces. Terms of the transaction were not disclosed.
Frontera’s premium salsa, sauces, snacks and meals feature the distinct flavors of Mexico. Red Fork is known for its premium American cooking sauces and Salpica is a unique Tex-Mex salsa line.
“We are excited to add the Frontera, Red Fork and Salpica brands to our portfolio. In particular, the Frontera brand is a preeminent gourmet Mexican food brand in North America. We believe it provides a tremendous platform off which we can build,” said Sean Connolly, president and chief executive officer of ConAgra Foods.
Founding Chef Rick Bayless says, “In ConAgra, we’ve found people who respect our integrity and uncompromising standards. We will continue to make high-quality food with the same standards of excellence and operate with the same values and fresh ingredients that have helped the business to become the premium brands they are now. This is the start of a new era for Frontera, Salpica and Red Fork, and we are thrilled.”
Frontera Foods CEO Manny Valdes says, “Frontera has grown through a passion for innovation and hard work. We have made a difference in the American grocery store and the American home. We believe ConAgra is a fantastic partner to help us deliver the same level of authentic, gourmet food products to even more homes across the country.”
Shares of International Paper Co (NYSE:IP) ended Monday session in red amid volatile trading. The shares closed down -1.05 points or -2.17% at $47.36 with 3.24 million shares getting traded. Post opening the session at $48.25, the shares hit an intraday low of $47.32 and an intraday high of $48.30 and the price vacillated in this range throughout the day. The company has a market cap of $19.68 billion and the numbers of outstanding shares have been calculated to be 411.20 million shares.
International Paper Co (IP) operates as a paper and packaging company in North America, Europe, Latin America, Russia, Asia, Africa, and the Middle East. The company operates through three segments: Industrial Packaging, Printing Papers, and Consumer Packaging. The Industrial Packaging segment manufactures containerboards, including linerboard, medium, whitetop, recycled linerboard, recycled medium, and saturating kraft. The Printing Papers segment produces printing and writing papers, such as uncoated papers for end use applications, including brochures, pamphlets, greeting cards, books, annual reports, and direct mail, as well as envelopes, tablets, business forms, and file folders.