News Release

ConAgra Foods Completes Acquisition of the Assets of American Pie, LLC

Jun 28, 2010, 12:44 PM EDT

Acquisition paves ConAgra Foods' way into frozen desserts, with Marie Callender's frozen pies

OMAHA, Neb., Jun 28, 2010 (BUSINESS WIRE) --

ConAgra Foods, Inc. (NYSE: CAG) announced today that it has completed the acquisition of the assets of American Pie, LLC. The company announced its intent to purchase the assets of American Pie, based in Woodbury, N.Y., on June 14.

American Pie manufactures frozen fruit pies, thaw and serve pies, fruit cobblers and pie crusts under the licensed Marie Callender's and Claim Jumper trade names, as well as frozen dinners, pot pies and appetizers under the Claim Jumper trade name. The American Pie business will be managed as part of ConAgra Foods' existing Marie Callender's frozen business, within its Consumer Foods segment.

About ConAgra Foods

ConAgra Foods, Inc., (NYSE: CAG) is one of North America's leading food companies, with brands in 96 percent of America's households. Consumers find Banquet, Chef Boyardee, Egg Beaters, Healthy Choice, Hebrew National, Hunt's, Marie Callender's, Orville Redenbacher's, PAM, Peter Pan, Reddi-wip and many ConAgra Foods brands in grocery, convenience, mass merchandise and club stores. ConAgra Foods also has a strong business-to-business presence, supplying frozen potato and sweet potato products as well as other vegetable, spice and grain products to a variety of well-known restaurants, foodservice operators and commercial customers. For more information, please visit us at http://www.conagrafoods.com.

SOURCE: ConAgra Foods, Inc.

ConAgra Foods
Media:
Jeff Mochal, 402-240-7825
Director, Communication & External Relations
Jeff.Mochal@ConAgraFoods.com
or
Investors:
Chris Klinefelter, 402-240-4154
Vice President, Investor Relations
Chris.Klinefelter@ConAgraFoods.com