Gilroy Foods and Flavors got a new owner and new signs Monday
after Olam International Limited officially acquired the business
for $250 million from Nebraska-based ConAgra.
Morgan Hill Times
Gilroy Foods and Flavors got a new owner and new signs Monday after Olam International Limited officially acquired the business for $250 million from Nebraska-based ConAgra.
Under the agreement, Singapore-based Olam has acquired ConAgra’s facilities in Gilroy, Modesto, Hanford, Nevada, New Mexico and Oregon as well as a long-term lease on a warehouse in King City. About 1,500 employees work at those facilities, including 675 workers in Gilroy alone as of 2008.
Greg Estep, formerly president of Gilroy Foods and Flavors for ConAgra, is now president of spices and dehydrates for Olam International.
Olam signed an agreement with ConAgra on June 7 stating its intention to buy the dehydrated garlic, onion, capsicum and vegetable business. The company has a direct presence in 64 countries and supplies 20 products to more than 10,600 customers. It sells cocoa, coffee, cashew, sesame, rice, cotton and wood products, among other commodities.
Monday’s sale does not include Gilroy Foods’ former seasoning blends and flavors business, which continues to operate under ConAgra as Spicetec Flavors & Seasonings.
