ConAgra Foods Announces New Licensing and Capabilities Agreement with the Procter & Gamble Company
June 19 2008 - 6:37PM
Business Wire
ConAgra Foods, Inc. (NYSE:CAG) announced today a new licensing and
capabilities agreement with The Procter & Gamble Company (NYSE:
PG) that provides ConAgra Foods access to unique
nutrition-enhancing food ingredients and packaging capabilities
related to sustainability, ergonomics and design, as well as access
to the vast amounts of research associated with those technologies.
Financial terms of the agreement were not disclosed. Under the
terms of the agreement, ConAgra Foods will be P&G�s exclusive
licensee for a variety of P&G food ingredient and processing
technologies, including nutrition-enhancing ingredients like
Calcium Citrate Malate, trademarked Calsura. In addition, ConAgra
Foods will receive access to various packaging capabilities and
technologies owned by P&G. These food and packaging
technologies will have application within a broad spectrum of
current ConAgra Foods branded products. Additionally, ConAgra Foods
will have the option to purchase all rights to certain technologies
covered by the license. �P&G has a wealth of food technologies
that we can use to deliver new and improved products that drive
health and wellness and create unique competitive advantages for
our business,� said Al Bolles, executive vice president, Research,
Quality & Innovation for ConAgra Foods. �In addition, ConAgra
Foods gains access to P&G�s packaging capabilities which will
allow us to reduce costs and improve our sustainability efforts.
We�ll also receive P&G�s full institutional knowledge and
research for the licensed technologies and will leverage that
expertise in a variety of different ways.� �P&G is a company of
brands, and as a result we have technologies and core expertise in
many categories and capabilities,� said Jeff Weedman, vice
president, External Business Development, P&G. �I�m really
pleased that P&G�s food technologies and packaging expertise
will help power ConAgra Foods� brands, many of which are enjoyed by
my own family. P&G looks forward to furthering its relationship
with ConAgra Foods.� One of the nutrition-enhancing food
ingredients included in the agreement is Calsura, the trademarked
name for Calcium Citrate Malate (CCM), a form of calcium that can
be used to fortify a variety of foods and beverages. CCM is one of
the most thoroughly studied supplemental forms of calcium, having
been tested in numerous clinical trials involving children,
teenagers, young adults, post-menopausal women and senior adults.
These studies have shown that the calcium in Calsura is highly
absorbable and builds stronger bones in both children and adults.
As part of the agreement, ConAgra Foods will be P&G�s exclusive
licensee for Calsura in a number of food categories and will be
given access to all of P&G�s research and clinical trials for
this product. In addition, ConAgra Foods will be given a license to
utilize the Calsura trademark in ConAgra Foods-owned branded
products containing CCM. About ConAgra Foods ConAgra Foods, Inc.,
(NYSE: CAG) is one of North America�s leading packaged food
companies, serving grocery retailers, as well as restaurants and
other foodservice establishments. Popular ConAgra Foods consumer
brands include: Banquet, Chef Boyardee, Egg Beaters, Healthy
Choice, Hebrew National, Hunt�s, Marie Callender�s, Orville
Redenbacher�s, PAM and many others. For more information, please
visit us at www.conagrafoods.com. About Procter and Gamble Three
billion times a day, P&G brands touch the lives of people
around the world. The company has one of the strongest portfolios
of trusted, quality, leadership brands, including Pampers(R),
Tide(R), Ariel(R), Always(R), Whisper(R), Pantene(R), Mach3(R),
Bounty(R), Dawn(R), Gain(R), Pringles(R), Charmin(R), Downy(R),
Lenor(R), Iams(R), Crest(R), Oral-B(R), Actonel(R), Duracell(R),
Olay(R), Head & Shoulders(R), Wella, Gillette(R), and Braun.
The P&G community consists of 138,000 employees working in over
80 countries worldwide. Please visit http://www.pg.com for the
latest news and in-depth information about P&G and its brands.
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