November 29/Omaha, Neb./Business Wire -- ConAgra Foods Inc. has become the majority owner of Indian food company Agro Tech Foods Limited (ATFL), increasing its ownership of shares to more than 50%, through the purchase of existing shares from a third party. The purchase price for the additional shares was approximately $10 million.
"ConAgra Foods has enjoyed a strong partnership with Agro Tech Foods, dating back to 1997, and we believe strongly in its business model and leadership team," said Gary Rodkin, CEO, ConAgra Foods. "Expanding our International business is a key part of our strategic plan, and India represents an attractive growth market for ConAgra Foods. We will continue to work with Agro Tech's management team to expand its business and our investment in this important region."