Milling & Baking News Corporate Profiles - 2019 - 68

COMPANY OVERVIEW

Conagra Brands, Inc.
Integration of Pinnacle Foods was a priority for the company in 2019
onagra Brands, Inc. completed its $10.9
billion acquisition of Pinnacle Foods, Inc.
on Oct. 26, 2018. Management has spent
much of 2019 integrating the business, which includes such brands as Birds Eye, Duncan Hines,
Wish-Bone, Log Cabin and others.
The integration of Pinnacle Foods got off to
a rocky start as net sales during the first quarter
post-acquisition came in below Conagra's expectations. Management said the sluggish start was due
to "subpar innovation and executional missteps."
Conagra was able to get the business on track in
subsequent quarters.
A strategy of emphasizing profit margins versus
volume is central to president and chief executive officer Sean M. Connolly's 2020 vision for the
company. It is a strategy that helped the Chicagobased company achieve profitable growth and
market share gains in its frozen meals and snacks
businesses, and is being applied to the Pinnacle
Foods portfolio.
Value-added innovation being applied to
some Pinnacle brands include the introduction
of Birds Eye Veggie Shreds, which are steam-inthe-bag lightly seasoned shredded vegetables.
The Duncan Hines brand has been extended
into the snack segment with the introduction of
Gooey Bakes and Mug Cake Mixes.

C

Conagra Brands also said it is entering the
emerging meat alternative market in a significant
fashion in 2020.
"Based on our analysis of product substitution in
other categories, almond milk for cow's milk as an
example, we can reasonably predict the opportunity for plant-based meat alternatives," Mr. Connolly
said. "And here is where it gets really exciting because the opportunity shouldn't be viewed as just a
percentage of fresh meat. We think the opportunity
is a percentage of all foods that contain meat."
Mr. Connolly forecast U.S. meat alternative sales
could reach $30 billion. To capitalize on the perceived opportunity Conagra Brands plans to leverage the Gardein brand, which was a part of the Pinnacle Foods acquisition. Mr. Connolly said Gardein
currently has sales of more than $170 million, is the
second largest brand in the meat alternative space
and has quadrupled in size over the past four years.
The brand has two manufacturing plants in
Richmond, B.C., and Hagerstown, Md. Additional

processing capacity is expected to be operational
this fall and will give Gardein the ability to grow,
according to Conagra.
Innovation from the company includes a meatless burger, which Mr. Connolly called an underdeveloped part of the Gardein business. Conagra
also plans to introduce meatless hot dogs and sausage products. Cobranding also will be central to
Conagra's go-to-market strategy as it pairs Gardein
products with such brands as Healthy Choice, Birds
Eye, Marie Callender's and Udi's.
The company is building The Conagra Brands
Center for Food Design in Chicago, located next to
the company's headquarters. The 40,000-squarefoot research and development center will be an
expansion of the company's current facility.
The innovation center will focus on innovation
related to snacking and combine food and packaging design capabilities. The innovation center is
scheduled to open during the first quarter of 2020.
An Italian investment company owned by Consilum SGR S.p.A., Progressio SGR S.p.A. and MMM
S.r.l. acquired the Gelit Italian frozen pasta business from Conagra Brands in 2019. Financial terms
of the transaction were not disclosed.
Based in Doganella di Ninfa, Italy, Gelit produces Italian frozen food and ready meals primarily for
private label customers. CP

Chief executive officer -
Sean M. Connolly

Conagra Brands, Inc.
net income (loss)

Conagra Brands, Inc.
net sales

(fiscal years ended in May)

Conagra Brands share price

per share

(fiscal years ended in May)

$35

$639

2017

68 \ November 2019

$808

2018

$678

2019

in millions

in millions

$31
$27

$7,827

$7,938

$9,538
$23

2017

2018

2019

$19
Oct.
2018

Dec.

Milling & Baking News * Food Business News * Baking & Snack * Meat+Poultry * Pet Food Processing

Feb. April
2019

June

Aug.

Oct.

Corporate Profiles



Milling & Baking News Corporate Profiles - 2019

Table of Contents for the Digital Edition of Milling & Baking News Corporate Profiles - 2019

Milling & Baking News Corporate Profiles - 2019
CONTENTS
EDITORIAL - Plant-based foods: Chronicle of a boom foretold
INDUSTRY REVIEW: GRAIN-BASED FOODS
INDUSTRY REVIEW: PACKAGED FOODS
INDUSTRY REVIEW: BEVERAGES
INDUSTRY REVIEW: MEAT AND POULTRY
INDUSTRY REVIEW: DAIRY
INDUSTRY REVIEW: CONFECTIONERY
INDUSTRY REVIEW: FOOD SERVICE
INDUSTRY REVIEW: PET FOOD
INDUSTRY REVIEW: PLANT PROTEIN
INDUSTRY REVIEW: CANNABIS
Beyond Meat, Inc.
Grupo Bimbo S.A.B. de C.V.
Campbell Soup Co.
Coca-Cola Co.
Conagra Brands, Inc.
Danone S.A.
Dean Foods Co.
The Ferrero Group
Flowers Foods, Inc.
General Mills, Inc.
The Hershey Co.
Hostess Brands, Inc.
The J.M. Smucker Co.
Kellogg Co.
Kraft Heinz Co.
Kroger Co.
Mars, Inc.
McDonald’s Corp.
Mondelez International
Nestle S.A.
PepsiCo, Inc.
Post Holdings, Inc.
TreeHouse Foods, Inc.
Tyson Foods, Inc.
Walmart Inc.
AD INDEX
Milling & Baking News Corporate Profiles - 2019 - Milling & Baking News Corporate Profiles - 2019
Milling & Baking News Corporate Profiles - 2019 - 2
Milling & Baking News Corporate Profiles - 2019 - 3
Milling & Baking News Corporate Profiles - 2019 - 4
Milling & Baking News Corporate Profiles - 2019 - 5
Milling & Baking News Corporate Profiles - 2019 - CONTENTS
Milling & Baking News Corporate Profiles - 2019 - 7
Milling & Baking News Corporate Profiles - 2019 - EDITORIAL - Plant-based foods: Chronicle of a boom foretold
Milling & Baking News Corporate Profiles - 2019 - 9
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: GRAIN-BASED FOODS
Milling & Baking News Corporate Profiles - 2019 - 11
Milling & Baking News Corporate Profiles - 2019 - 12
Milling & Baking News Corporate Profiles - 2019 - 13
Milling & Baking News Corporate Profiles - 2019 - 14
Milling & Baking News Corporate Profiles - 2019 - 15
Milling & Baking News Corporate Profiles - 2019 - 16
Milling & Baking News Corporate Profiles - 2019 - 17
Milling & Baking News Corporate Profiles - 2019 - 18
Milling & Baking News Corporate Profiles - 2019 - 19
Milling & Baking News Corporate Profiles - 2019 - 20
Milling & Baking News Corporate Profiles - 2019 - 21
Milling & Baking News Corporate Profiles - 2019 - 22
Milling & Baking News Corporate Profiles - 2019 - 23
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: PACKAGED FOODS
Milling & Baking News Corporate Profiles - 2019 - 25
Milling & Baking News Corporate Profiles - 2019 - 26
Milling & Baking News Corporate Profiles - 2019 - 27
Milling & Baking News Corporate Profiles - 2019 - 28
Milling & Baking News Corporate Profiles - 2019 - 29
Milling & Baking News Corporate Profiles - 2019 - 30
Milling & Baking News Corporate Profiles - 2019 - 31
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: BEVERAGES
Milling & Baking News Corporate Profiles - 2019 - 33
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: MEAT AND POULTRY
Milling & Baking News Corporate Profiles - 2019 - 35
Milling & Baking News Corporate Profiles - 2019 - 36
Milling & Baking News Corporate Profiles - 2019 - 37
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: DAIRY
Milling & Baking News Corporate Profiles - 2019 - 39
Milling & Baking News Corporate Profiles - 2019 - 40
Milling & Baking News Corporate Profiles - 2019 - 41
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: CONFECTIONERY
Milling & Baking News Corporate Profiles - 2019 - 43
Milling & Baking News Corporate Profiles - 2019 - 44
Milling & Baking News Corporate Profiles - 2019 - 45
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: FOOD SERVICE
Milling & Baking News Corporate Profiles - 2019 - 47
Milling & Baking News Corporate Profiles - 2019 - 48
Milling & Baking News Corporate Profiles - 2019 - 49
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: PET FOOD
Milling & Baking News Corporate Profiles - 2019 - 51
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: PLANT PROTEIN
Milling & Baking News Corporate Profiles - 2019 - 53
Milling & Baking News Corporate Profiles - 2019 - 54
Milling & Baking News Corporate Profiles - 2019 - 55
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: CANNABIS
Milling & Baking News Corporate Profiles - 2019 - 57
Milling & Baking News Corporate Profiles - 2019 - Beyond Meat, Inc.
Milling & Baking News Corporate Profiles - 2019 - 59
Milling & Baking News Corporate Profiles - 2019 - Grupo Bimbo S.A.B. de C.V.
Milling & Baking News Corporate Profiles - 2019 - 61
Milling & Baking News Corporate Profiles - 2019 - 62
Milling & Baking News Corporate Profiles - 2019 - 63
Milling & Baking News Corporate Profiles - 2019 - Campbell Soup Co.
Milling & Baking News Corporate Profiles - 2019 - 65
Milling & Baking News Corporate Profiles - 2019 - Coca-Cola Co.
Milling & Baking News Corporate Profiles - 2019 - 67
Milling & Baking News Corporate Profiles - 2019 - Conagra Brands, Inc.
Milling & Baking News Corporate Profiles - 2019 - 69
Milling & Baking News Corporate Profiles - 2019 - Danone S.A.
Milling & Baking News Corporate Profiles - 2019 - Dean Foods Co.
Milling & Baking News Corporate Profiles - 2019 - The Ferrero Group
Milling & Baking News Corporate Profiles - 2019 - 73
Milling & Baking News Corporate Profiles - 2019 - Flowers Foods, Inc.
Milling & Baking News Corporate Profiles - 2019 - 75
Milling & Baking News Corporate Profiles - 2019 - 76
Milling & Baking News Corporate Profiles - 2019 - 77
Milling & Baking News Corporate Profiles - 2019 - General Mills, Inc.
Milling & Baking News Corporate Profiles - 2019 - 79
Milling & Baking News Corporate Profiles - 2019 - 80
Milling & Baking News Corporate Profiles - 2019 - 81
Milling & Baking News Corporate Profiles - 2019 - The Hershey Co.
Milling & Baking News Corporate Profiles - 2019 - 83
Milling & Baking News Corporate Profiles - 2019 - Hostess Brands, Inc.
Milling & Baking News Corporate Profiles - 2019 - 85
Milling & Baking News Corporate Profiles - 2019 - The J.M. Smucker Co.
Milling & Baking News Corporate Profiles - 2019 - 87
Milling & Baking News Corporate Profiles - 2019 - Kellogg Co.
Milling & Baking News Corporate Profiles - 2019 - 89
Milling & Baking News Corporate Profiles - 2019 - 90
Milling & Baking News Corporate Profiles - 2019 - 91
Milling & Baking News Corporate Profiles - 2019 - Kraft Heinz Co.
Milling & Baking News Corporate Profiles - 2019 - 93
Milling & Baking News Corporate Profiles - 2019 - Kroger Co.
Milling & Baking News Corporate Profiles - 2019 - 95
Milling & Baking News Corporate Profiles - 2019 - Mars, Inc.
Milling & Baking News Corporate Profiles - 2019 - 97
Milling & Baking News Corporate Profiles - 2019 - McDonald’s Corp.
Milling & Baking News Corporate Profiles - 2019 - 99
Milling & Baking News Corporate Profiles - 2019 - Mondelez International
Milling & Baking News Corporate Profiles - 2019 - 101
Milling & Baking News Corporate Profiles - 2019 - Nestle S.A.
Milling & Baking News Corporate Profiles - 2019 - 103
Milling & Baking News Corporate Profiles - 2019 - PepsiCo, Inc.
Milling & Baking News Corporate Profiles - 2019 - 105
Milling & Baking News Corporate Profiles - 2019 - Post Holdings, Inc.
Milling & Baking News Corporate Profiles - 2019 - 107
Milling & Baking News Corporate Profiles - 2019 - TreeHouse Foods, Inc.
Milling & Baking News Corporate Profiles - 2019 - 109
Milling & Baking News Corporate Profiles - 2019 - Tyson Foods, Inc.
Milling & Baking News Corporate Profiles - 2019 - 111
Milling & Baking News Corporate Profiles - 2019 - Walmart Inc.
Milling & Baking News Corporate Profiles - 2019 - 113
Milling & Baking News Corporate Profiles - 2019 - AD INDEX
Milling & Baking News Corporate Profiles - 2019 - 115
Milling & Baking News Corporate Profiles - 2019 - 116
https://www.nxtbook.com/sosland/mbncp/2020_10_01
https://www.nxtbook.com/sosland/mbncp/2019_11_01
https://www.nxtbook.com/sosland/mbncp/2018_10_01
https://www.nxtbook.com/sosland/mbncp/2017_10_01
https://www.nxtbook.com/sosland/mbncp/2016_11_01
https://www.nxtbook.com/sosland/mbncp/2015_10_01
https://www.nxtbook.com/sosland/mbncp/2014_11_01
https://www.nxtbook.com/sosland/mbncp/2014_10_01
https://www.nxtbook.com/sosland/mbncp/2013_11_01
https://www.nxtbook.com/sosland/mbncp/2012_1001
https://www.nxtbook.com/sosland/mbncp/2011_10_01
https://www.nxtbook.com/sosland/mbncp/2010_10_01
https://www.nxtbook.com/sosland/mbncp/2009_11_01
https://www.nxtbook.com/sosland/mbncp/2008_11_01
https://www.nxtbook.com/sosland/mbncp/2007_11_01
https://www.nxtbook.com/sosland/mbncp/2006_11_01
https://www.nxtbook.com/sosland/mbncp/2005_11_01
https://www.nxtbookmedia.com