Conagra Brands has opted to offload its direct-store-delivery (DSD) snacks business to Utz Quality Foods for an undisclosed sum, as the company aims to prioritise its core business operations.
Conagra Brands acquired the DSD snacks business in 2018 as part of its $10.9 billion acquisition of Pinnacle Foods, and the business includes brands such Tim’s Cascade Snacks, Hawaiian Snacks, Erin’s, Snyder of Berlin and Husman’s.
Sean Connolly, president and chief executive officer of Conagra Brands said: “We continue to reshape our portfolio and focus our resources on priorities that support Conagra’s business strategy and create value for shareholders.
“While Conagra has a large and growing snacks business, we do not currently operate with a DSD model. We believe this business will have more opportunity for growth under Utz, an established DSD operator.”
Dylan Lissette, chief executive officer of Utz added: “We are excited about the opportunity to add these important brands and capabilities to our portfolio.
“These brands bring a strong consumer following and unique craft heritage. Their distribution and manufacturing capabilities, along with their customer relationships, enhance our ability to further grow our brand portfolio further west.”
Last week, Conagra unveiled plans for a new US innovation site to enable the “rapid development” of contemporary, on-trend products, with a particular focus on snack products.
By Martin White
Source: FoodBev
Danone has appointed Carla Hilhorst to the newly created position of senior vice president of research and innovation categories and zones, as the company looks to make science the heart of its business. Hilhorst, who brings over 30 years of experience in research and innovation, will report directly to Isabelle Esser, Danone’s chief research, innovation, quality and food safety officer.
The move, part of Pernod Ricard’s strategy to enhance its premiumisation efforts, will allow the company to focus more resources on its portfolio of premium international spirits and champagne brands that drive the growth of its business. This decision aligns with the company’s commitment to delivering sustainable value for shareholders, employees, clients and partners.
Schai – who is the current CEO of Swiss chocolate company Lindt & Sprüngli’s Australian operation – has previously worked with Aryzta from 2015-2018, where he served in roles including managing director for Asia Pacific and global strategic business lead (McDonald’s). The fast-food giant McDonald’s is one of Aryzta’s significant clients.
