ConAgra Foods

Rick Bayless' Frontera Foods sold to ConAgra; chef's brand staying in Chicago

Rick Bayless' Frontera Foods sold to ConAgra; chef's brand staying in Chicago

Frontera Foods, the Chicago-based gourmet Mexican food company started by chef Rick Bayless, has been purchased by ConAgra Foods, the packaged food giant known for such brands as Slim Jim, Banquet and Reddi-wip.

The acquisition, which closed Monday, moves the Frontera, Red Fork and Salpica grocery brands under the ConAgra banner, but does not include any of the Frontera-branded restaurants. Terms of the deal were not disclosed.

The homegrown 20-year-old chips and salsa company is the first acquisition for ConAgra since it moved its headquarters from Omaha to Chicago in June, and it meshes with ConAgra's ambitions.

"It is our strategy...

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