Sector News

Conagra to lay off employees at Pinnacle Foods plant

February 7, 2019
Food & Drink

Conagra Brands, Inc. has announced plans to lay off approximately 100 employees at its Pinnacle Foods, Inc. office in Boulder as part of planned shutdown of the facility.

“In October, Conagra Brands acquired Pinnacle Foods, and as a part of that transaction, committed to undergoing a thorough evaluation process of the Boulder Brands business,” said Michael Cummins, vice-president of communications at Conagra. “Conagra recently completed a data-based analysis based on capabilities and determined it was best to integrate and build the Boulder-based brands into Conagra the way of innovation, development, brand building and business process. This requires everyone being in the same location so teams can work fast and efficiently, share ideas for innovation in real-time and build our brands with each other. As a result, the Boulder office location will close by the end of 2019, though many employees will be offered jobs in other Conagra locations.”

Mr. Cummins said employees will receive severance pay and outplacement support.

In December, Sean M. Connolly, president and chief executive officer of Conagra, said “subpar innovation and executional missteps” led to “highly disappointing” results in the Pinnacle Foods business.

“We need to bring our executional capabilities to the Pinnacle business now,” Mr. Connolly said. “We now have a clear understanding of the source of the weakness in the business, and we’ve started to take action.”

The acquisition of Pinnacle Foods was expected to strengthen Conagra’s position in the frozen food market. Pinnacle Foods owns such brands as Birds Eye, Mrs. Paul’s and Hungry-Man. Pinnacle Foods also has a strong presence in the center of the retail store and in the market for gluten-free products.

By Eric Schroeder

Source: Food Business News

comments closed

Related News

September 19, 2021

PepsiCo announces ambitious new sustainability program

Food & Drink

PepsiCo today announced a new sustainability program called PepsiCo Positive, or pep+, committing to “a strategic end-to-end transformation with sustainability at the center of how the company will create growth and value by operating within planetary boundaries and inspiring positive change for the planet and people.”

September 19, 2021

Kerry completes US$1B Niacet purchase to create “world-leading food protection and preservation platform”

Food & Drink

Kerry has completed the acquisition of Niacet, which was previously announced in June, as Kerry seeks to strengthen its food protection and preservation strategy. Niacet is a key player in preservation, and its business complements Kerry’s extensive portfolio of food protection and preservation technologies and processes.

September 19, 2021

Isochoric freezing: a more energy efficient way to freeze food

Food & Drink

In a study published earlier this month, researchers at the USDA’s Agricultural Research Service (ARS) and UC Berkeley revealed that switching from isobaric to isochoric freezing would significantly reduce energy use and the associated carbon emissions by a significant amount.

Send this to a friend