Kennewick, Wash., Aug. 6, 2008 - ConAgra Foods Lamb Weston, the largest potato company in North America with annual sales exceeding $2 billion, and Ochoa Foods, a privately owned potato processing company based in Boise, Idaho, announced today that they have entered into a new joint venture. The two companies will form a 50/50 joint venture to operate Ochoa Foods' current potato processing plant in Warden, Wash.
The name of the new joint venture will be Lamb Weston / BSW, and its purpose will be to develop, process and sell frozen potato products. Financial terms of the joint venture were not disclosed.
"This is an exciting new opportunity for Lamb Weston, and a true 'win-win' for both Ochoa Foods and Lamb Weston," said Jeff DeLapp, president, ConAgra Foods Lamb Weston. "Combining Ochoa's entrepreneurial spirit and experience with Lamb Weston's operating reach should drive improved earnings potential for both companies."
"This new partnership with Lamb Weston is a major milestone for Ochoa Foods," said Howard Bafford, chief operating officer, Ochoa Foods. "The employees of Ochoa Foods have worked extremely hard to establish the base of business we have today, and we look forward to combining this effort with the resources of ConAgra Foods Lamb Weston in this new joint venture."
The Warden processing plant processes approximately 300,000 tons of potatoes each year and services several major quick-service restaurants and other foodservice accounts. The 140,000-sq. ft. facility is located on a 17-acre site in Washington's Columbia Basin.
ConAgra Foods Lamb Weston is a brand of ConAgra Foods, Inc., one of North America's leading packaged food companies, serving consumer 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.