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CONAGRA SHRIMP COS. ACQUIRES MERIDIAN

OMAHA, Neb., March 7 /PRNewswire/ -- ConAgra Shrimp Companies, part of ConAgra, Inc. (NYSE: CAG), has acquired the assets of Meridian Products, Inc. in a cash transaction. Terms were not disclosed.

Meridian Products and its subsidiaries, Atlantic Meridian and Gulf Meridian, are worldwide traders and sourcers of a wide variety of seafood. Annual sales are about $200 million.

Jesse Gonzalez, president of ConAgra Shrimp Companies, said, "This acquisition is an excellent strategic move for ConAgra Shrimp Companies. Meridian's strong international presence adds an important dimension to our domestic shrimp processing operations."

Meridian Products, headquartered in Santa Fe Springs, Calif., will be an independent operating company of ConAgra Shrimp Companies. Rick Martin will continue as president of Meridian.

ConAgra Shrimp Companies, headquartered in Tampa, Fla., includes Singleton Seafood Company, a leading shrimp processor, foodservice supplier and retail marketer of shrimp and other seafood; O'Donnell-Usen U.S.A., a leading private label packer of seafood; and commodity seafood trading businesses. ConAgra, Inc., headquartered in Omaha, is a diversified international food company.
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/CONTACT: Lynn Phares, Vice President, Public Relations and Community Affairs of ConAgra, 402-595-4153/

/ConAgra press releases are available through Company News On-Call by fax, 800-758-5804, extension 200825, or http://www.prnewswire.com/

(CAG)

CO: ConAgra Shrimp Companies; Meridian Products Inc.; ConAgra Inc. ST: Nebraska, California, Florida IN: FOD SU: TNM

ST-SK -- LATH050 -- 1293 03/07/96 16:17 EST
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Publication:PR Newswire
Date:Mar 7, 1996
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