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Brazilian-based beef producer Marfrig Group today acquired ConAgra’s Pemmican beef jerky for $25 million. As part of the agreement, ConAgra will retain selling and distribution rights for Pemmican for the next five years.
The move makes sense for both parties, said Jeff Mochal, communications director at ConAgra, Omaha, Neb., For 35 years, Pemmican has been a small player among ConAgra’s portfolio of brands, which includes Healthy Choice, Hunt’s and Chef Boyardee. The acquisition allows ConAgra to concentrate on core brands like Slim Jims and its popcorn business, Mochal said.
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