ConAgra Mills (CAG) Announces Long-Term Agreement with MGP Ingredients (MGPI)
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ConAgra Mills, a brand of ConAgra Foods, Inc., (NYSE: CAG) and MGP Ingredients, Inc. (Nasdaq: MGPI) announced today the signing of a new, long-term flour supply agreement. Beginning immediately, MGPI will source flour for its value added wheat protein and starch ingredients exclusively from ConAgra Mills.
As part of the agreement, ConAgra Mills will take over wheat sourcing, production, risk management, quality control, logistics and transportation for the MGPI raw material. ConAgra Mills will provide flour to MGPI from select facilities in its 23 mill U.S. manufacturing network.
ConAgra Foods, Inc. (ConAgra Foods) is a packaged food company serving grocery retailers, as well as restaurants and other foodservice establishments. The Company operates in three business segments.[SM]
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