ConAgra to Invest in Capacity Expansion

US-based ConAgra Foods is planning to invest nearly $73m to expand its recently acquired Elan Nutrition facility in Kentwood, Michigan, which produces snack and nutrition bars.

Under the proposal, new equipment and machinery will be installed at the 230,000ft2 plant allowing the food manufacturer to expand its capacity and R&D capabilities.

The Michigan Economic Growth Authority is expected to grant a tax credit of $9m to ConAgra from Sun Capital Partners.

The City of Kentwood may also provide the company with a $3m tax abatement on real estate and personal property.

ConAgra reported sales of $3.09bn in the third quarter ended 28 February 2010.