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News Release
SCHREIBER FOODS ACQUIRES CONAGRA'S CREAM CHEESE ASSETS
GREEN BAY, WI, May 20, 2003 – Schreiber Foods Inc. has acquired the cream cheese and sour cream-related assets of ConAgra Foods’ plant in Fredericksburg, Iowa. The asset purchase includes all cream cheese and sour cream-related assets, not including the building and employees. Terms of the sale were not disclosed.
"Schreiber’s growth strategy targets cream cheese and other dairy products," said Larry P. Ferguson, Schreiber Foods’ President and Chief Executive Officer. "This acquisition enables Schreiber to expand our cream cheese business and further advance toward our vision of being a full-service dairy company."
Headquartered in Green Bay, Schreiber Foods is a privately held dairy company with sales in excess of $2 billion. Its products – which include process, natural, cream and specialty cheese – are sold primarily through customer brand distribution programs. Schreiber has sales, processing and distribution facilities in the United States, Brazil, Germany and Mexico.
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