WINNIPEG, MANITOBA, CANADA — Richardson International Ltd. has reached agreement with Conagra Brands, Inc. to purchase Wesson, the company’s U.S. retail brand of canola, corn and vegetable cooking oils.
Financial terms of the transaction were not disclosed.
Richardson said it plans to reinvigorate the brand to engage customers while continuing to live up to its promise of “Bringing Quality Ingredients to the Table.”
Already recognized as a vertically integrated leader in canola processing, this acquisition reinforces Richardson’s growth strategy for its food business.
“The rich history of both our company and the Wesson brand makes this an exciting acquisition for us,” said Curt Vossen, president and chief executive officer of Richardson. “We believe that consumers will continue to seek out high quality foods and aligning with the Wesson brand expands our ability to meet that consumer desire.”
Richardson is also set to acquire the Wesson production facility located in Memphis, Tennessee, U.S. The 280,000-square-foot manufacturing plant will complement Richardson’s food and ingredients division.
“We are excited about expanding into this geography and look forward to investing in the future of this plant, the employees, and the community,” Vossen said. “Our recent C$30 million investment to build an innovation center focused on product development will provide a modern platform for testing solutions and exploring new ideas, creating the perfect match to develop truly innovative products to meet and exceed consumer expectations.”
With plans to invest in the Memphis facility, Richardson is committed to a continued U.S. presence for marketing, manufacturing and distribution of Wesson products.