ConAgra Foods' European Partner Announces Agreement to Serve Russian Market Through Joint Venture

A new joint venture with Russian Belaya Dacha, once approved, will include a new manufacturing facility in Lipetsk Russia that will support key customers

Lamb Weston / Meijer, a partnership between US-based ConAgra Foods Lamb Weston and Netherlands-based Meijer Frozen Food, announced today they’ve signed an agreement with Russian company Belaya Dacha to establish a new joint venture partnership that will serve the Russian market. The deal is subject to FAS (Federal Anti-monopoly Service) approval.

At close, the collaboration will enable Lamb Weston / Meijer and Belaya Dacha to combine their complementary knowledge and skills. The partnership will benefit from Lamb Weston / Meijer’s in-depth experience in potato growing and french fry production while leveraging Belaya Dacha’s experience in the Russian quick service market.

“Lamb Weston leverages its well-established dual sourcing model to supply customers in North America and Europe,” said Greg Schlafer, President, Lamb Weston. “This new partnership between Lamb Weston / Meijer and Belaya Dacha will allow our partners at Lamb Weston / Meijer to serve our customers expanding in the growing Russian market.”

The newly created partnership will, at close, invest in a new french fry manufacturing facility in Lipetsk, a special economic zone situated 280 miles south of Moscow. Construction is planned to begin mid-2016, with production starting in early 2018.

Worldwide demand for frozen french fries continues to increase, and Euromonitor predicts that the frozen potato category will grow 2.6 billion pounds by 2020. Recently, Lamb Weston announced its plans to expand operations in Richland, Wash., adding a new french fry line to allow them to meet growing global demand. A frozen potato industry leader, Lamb Weston operates, directly and with its partners, 22 manufacturing facilities in North America, Europe and China.

About ConAgra FoodsConAgra Foods, Inc., (NYSE: CAG), is one of North America's leading packaged food companies with recognized brands such as Marie Callender's®, Healthy Choice®, Slim Jim®, Hebrew National®, Orville Redenbacher's®, Peter Pan®, Reddi-wip®, PAM®, Snack Pack®, Banquet®, Chef Boyardee®, Egg Beaters®, Hunt’s® and many other ConAgra Foods brands found 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 www.conagrafoods.com.

About Lamb Weston / MeijerLamb Weston® is a world leading brand in high quality potato products, and is sold in over 100 countries around the world. Lamb Weston / Meijer serves markets in Europe, the Middle East, Africa (EMEA) and Brazil. The company supplies frozen potato products like Twisters®, Potato Dippers and Connoisseur Fries to customers in the Foodservice, Quick Service and Retail segments. Lamb Weston / Meijer is also an ingredient solutions provider for the food industry. For more than 20 years, Lamb Weston / Meijer has led the industry in innovation, by introducing inventive products that add convenience to the operations of our customers and make eating more delicious for their customers. From the fields where our potatoes are grown to proactive customer partnerships, Lamb Weston / Meijer always raises the bar. Lamb Weston / Meijer has its headquarters in Kruiningen - The Netherlands. The company operates five factories: three in the Netherlands, one in the United Kingdom and one in Austria. Lamb Weston / Meijer employs 1,300 people in the EMEA region.

www.lambweston.eu

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ConAgra Foods, Inc.Shelby Stoolman, [e-mail]