CHICAGO --Conagra Brands Inc. has entered into a definitive agreement to acquire Thanasi Foods LLC, maker of Duke's meat snacks and Bigs seeds. Conagra Brands is figuratively adding some fresh meat to its lineup of companies, agreeing to acquire maker of Duke's® meat snacks and BIGS® seeds, Thanasi Foods. "These on-trend brands extend our meat snacks and seeds businesses into faster-growing, more premium segments. contact, 28-Jun-2017 dataLayerNews.related_tags = sanitize_gpt_value2("Revenue, Better, Conagra"); Sign up to our free newsletter and get the latest news sent direct to your inbox. Registered in England and Wales. var reg = new RegExp('\\W+', "g"); } When will the deal close? Houlihan Lokey Capital Inc … Financial terms were not disclosed. Since taking over as Conagra's CEO in 2015, he has acquired Blake's All Natural Foods, Rick Bayless' Frontera Foods, and Thanasi Foods, the maker of Duke's Meat Snacks and Bigs seeds. Health, Free newsletter However, the Thanasi Foods acquisition added approximately 100 basis points to its grocery and snacks segment’s net sales growth rate during the quarter, ConAgra added. Encore Consumer Capital Announces the Sale of Thanasi Foods to Conagra Brands. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Thanasi was … Conagra (CAG) to Revamp Portfolio on Thanasi & BIGS Buyout. The acquisition comes amid a … Financial terms of the deal were not disclosed. Why did Duke's want to be acquired? The company agreed to pay $8.3 million to resolve the charges, which included a $4.4 million criminal fine, $3.45 million as compensation for illegal profits and $450,000 to reimburse the U.S. Department of Agriculture for storage and investigation expenses. Following the completion of the transaction, the Duke's and BIGS brands will continue operating out of Boulder, Colorado. googletag.display('text-ad1'); Copyright © 2021. The competition in the snack set will see some sibling rivalry with today’s announcement that Conagra Brands, producer of DAVID seeds and Slim Jim, has entered into an agreement to acquire Thanasi Foods, maker of BIGS seeds and Duke’s meat snacks The family-operated business is committed to producing its products in small batches with real, whole ingredients, fresh never-frozen pork and chicken, 100% grass-fed beef, and authentic hardwood smoke pairings. vOut +=', '; Thanasi Foods will continue to be led by Justin Havlick and the existing leadership team of Thanasi … Subscribe However, it reported its sales declined by 9.3% to $1.86bn in the fourth quarter, and dropped by 9.7% to $7.82bn for the full year 2017. The transaction, subject to regulatory approval, is expected to close this summer.The decision to be acquired stemmed from the high growth that Thanasi has seen in both of its brands, … "The Conagra Brands team values our brand beliefs and is committed to continuing to use quality ingredients and the craft methods that deliver the creativity and flavor our consumers and fans love today.". Net sales of ConAgra’s grocery and snacks segment also fell by 3% to $749m in Q4, while volume declined by 2% from “a reduction in promotional intensity and the planned discontinuation of certain lower-performing products,”​ the company said. Informa Markets, a trading division of Informa PLC. { { dataLayerNews = {}; Who are the advisers for the deal?Houlihan Lokey served as financial advisor and Brownstein Hyatt Farber Schreck, LLP served as legal counsel to Thanasi Foods LLC and BIGS LLC. return vOut; }); ConAgra acquired Thanasi Foods​​, the parent company of Duke’s meat snacks and BIGS seeds, earlier this year, a deal the company said added approximately 40 basis points to Q4 2017 sales growth. However, transforming ConAgra is a multi-year effort rather than just a flip of the switch. Contacts Encore Consumer Capital Raigan Roy, 415-296-9850 raigan@encoreconsumercapital.com The average Conagra Brands salary ranges from approximately $27,139 per year for Production Worker to $99,323 per year for Warehouse Lead. vOut = vOut.toLowerCase(); Thanasi Foods LLC is a leading maker of premium meat snacks, including Duke's Smoked Shorty Sausages and Duke's Brisket & Steak Strips. The definitive agreement to acquire Thanasi was announced on March 16, 2017. We are looking forward to working with the Thanasi team to grow the brands further and create value for our shareholders.". Coincidentally, $108.9 million was also the amount a Nebraska district judge ordered ConAgra to pay in March in a civil lawsuit over the 2009 explosion of … Conagra Brands annual/quarterly revenue history and growth rate from 2006 to 2020. Chicago-based Conagra Brands, Inc., intends to acquire protein-based snacking businesses Thanasi Foods LLC and Bigs LLC. for (var i=0; i < aTags.length; i++) We expect further accelerated growth in the future (2019 and 2020) as our innovation pipeline and new marketing programs get a hold in the market.​. However, it reported its sales declined by 9.3% to $1.86bn in the fourth quarter, and dropped by 9.7% to $7.82bn for the full year 2017. Uncover why THANASI Foods is the best company for you. Financial terms were not disclosed. A new clean label ingredient for healthy baking, Ensuring Proper Allergen Management in Your Wholesale Bakery, SCORPION® 2 Digital Humidity Sensor: New patented digital technology measures humidity in all your baking processes, Exploring Innovation for Sweet Baked Products, COLOURING FOODSTUFFS - THE MIDAS TOUCH TO YOUR TURMERIC LATTE, Sign up to our free newsletter and get the latest news sent direct to your inbox, Processing Equipment & Systems, Automation, Control, Packaging & Packing Materials, Containers, News & Analysis on the Bakery and Snacks Industries. Manufacturers, ConAgra Foods said Tuesday that the acquisition will strengthen its overall position in the North American packaged food business. … Early this year, Conagra acquired Thanasi Food, the upstart food manufacturer behind the Duke’s meat snacks brand and Bigs sunflower seeds. What are the financial terms?The transaction is subject to customary closing conditions, including the receipt of regulatory approval, and is expected to close summer 2017. - Last updated on The deal was first announced in late June. $(document).ready(function() { 18-Aug-2017 at 12:11 GMT. Find out what works well at THANASI Foods from the people who know best. What is Thanasi Foods?Thanasi Foods LLC is a leading maker of premium meat snacks, including Duke's Smoked Shorty Sausages and Duke's Brisket & Steak Strips. What is Bigs?Bigs produces a line of premium, USA-grown seed snacks, including jumbo, fire-roasted in-shell sunflower seeds, sunflower seed kernels, and homestyle-roasted pumpkin seeds. Learning about an ag milestone, looking to the future, Biofuel groups want EPA to restore lost RFS demand, Allowed HTML tags:


. No financial terms were disclosed. Revenue can be defined as the amount of money a company receives from its customers in exchange for the sales of goods or services. Related tags: Thanasi Foods LLC is a Colorado based manufacturer of Duke's Smoked Meat Snacks and BIGS Sunflower Seeds. Thanasi Foods is a manufacturer and distributor of packaged snack foods. The definitive agreement to acquire Thanasi was announced on March 16, 2017. Snacks, CONAGRA BRANDS INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. ConAgra’s CEO Sean Connolly said the company has gone through transformations over the past two years to become “a focused, pure play, branded CPG”​ company. } Conagra Brands announced plans to acquire Pinnacle Foods in a cash-and-stock deal valued at about $8.1 billion, $10.9 billion including debt. ConAgra — the company behind brands like Slim Jim, Reddi Whip and Chef Boyardee — has completed the sale of its private-label business to Oak … Conagra announced Wednesday that it would pay about $8.1 billion in cash and stock for Pinnacle, whose other brands include Vlasic, Earth Balance and EVOL. The company is based in Boulder, Colorado. The $10.9 billion purchase price is expected to be financed with $3.0 billion of Conagra Brands equity issued to Pinnacle Foods shareholders and $7.9 billion in cash consideration funded with $7.3 billion of transaction debt and approximately $600 million of incremental cash proceeds from a public equity offering and/or divestitures. CONAGRA BRANDS INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. June 27, 2018 at 7:59 a.m. Boulder Brands and its parent company, Pinnacle Foods Inc., are set to be bought by packaged-food giant Conagra Brands, Inc. in a deal valued at about $10.9 billion. Now that we’ve undone some of the legacy practices that inflated our volume base and have built innovation capabilities, we’re positioned to improve growth trends sequentially," ​said Connolly. “For the last two fiscal years (2016 and 2017), we focused on resetting our top line and cost structure​. Zacks Equity Research. Copyright - Unless otherwise stated all contents of this web site are © 2021 - William Reed Business Media Ltd - All Rights Reserved - Full details for the use of materials on this site can be found in the Terms & Conditions, Related topics: Farm Progress is part of the Informa Markets Division of Informa PLC. Find the latest dividend history for ConAgra Brands, Inc. Common Stock (CAG) at Nasdaq.com. CHICAGO, April 24, 2017 /PRNewswire/ -- Today Conagra Brands, Inc. (NYSE: CAG) announced that it has completed the acquisition of protein-based snacking businesses Thanasi Foods LLC, maker of Duke's® meat snacks, and BIGS LLC, maker of BIGS® seeds (collectively, Thanasi). Conagra Brands currently manages the Slim Jim meat stick brand and the DAVID Seeds brand. Read full article. "This is an incredibly exciting time for our brands and our team, and we are looking forward to working with the Conagra Brands team on the next chapter in our journey to take Duke's and BIGS to another level," said Justin "Duke" Havlick, Duke's and BIGS founder and chief executive officer.

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