Food Industry
Industry: Email Alert RSS FeedConAgra reduces stake in seafood firm
Nation's Restaurant News, August 28, 1995
OMAHA, Neb. -- Agribusiness and foodservice manufacturing concern ConAgra Inc. sold a 40-percent interest in Trident Seafoods Corp. to Seattle-based NCS Seafoods, an investor group.
Financial terms were not disclosed.
With the sale, ConAgra now holds a 10-percent equity stake in the seafood-processing company, which is also based in Seattle. NCS owns about 90 percent.
ConAgra said it scaled back its ownership of Trident in order to focus on its core lines of business.
Separately, ConAgra said it had reached a settlement with the Internal Revenue Service regarding contested income taxes related to Beatrice Co. and its predecessors through 1987.
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ConAgra acquired Beatrice in August 1990. The contested taxes relate to the divestiture of certain businesses by Beatrice and constitute the bulk of pending tax settlements by ConAgra.
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