Conagra Brands Acquires FATTY Smoked Meat Sticks
Conagra Brands, Inc. (NYSE: CAG) has acquired Sweetwood Smoke & Co., the maker of FATTY Smoked Meat Sticks. The financial terms of the acquisition were not disclosed. FATTY products are described as protein-packed, better-for-you snacks made with high-quality pork and beef, smoked with real hickory wood. This acquisition aligns with Conagra's strategic focus on the snacking and frozen categories.
Sean Connolly, Conagra's CEO, stated that this move is part of reshaping their portfolio for faster growth. Ryan Wood, founder of Sweetwood Smoke & Co., expressed excitement about working with Conagra to expand FATTY's reach. Importantly, Conagra confirmed that this transaction would not affect its FY25 guidance issued on July 11, 2024.
Conagra Brands, Inc. (NYSE: CAG) ha acquisito Sweetwood Smoke & Co., produttore dei FATTY Smoked Meat Sticks. I termini finanziari dell'acquisizione non sono stati divulgati. I prodotti FATTY sono descritti come snack ricchi di proteine, più salutari e realizzati con carne di maiale e manzo di alta qualità, affumicati con legno di hickory autentico. Questa acquisizione si allinea con la strategia di Conagra nel concentrarsi sulle categorie snacks e surgelati.
Sean Connolly, CEO di Conagra, ha dichiarato che questa mossa fa parte di un processo di ristrutturazione del loro portafoglio per una crescita più rapida. Ryan Wood, fondatore di Sweetwood Smoke & Co., ha espresso entusiasmo per lavorare con Conagra per espandere la portata di FATTY. È importante sottolineare che Conagra ha confermato che questa transazione non influenzerà le sue previsioni per l'anno fiscale 25 emesse l'11 luglio 2024.
Conagra Brands, Inc. (NYSE: CAG) ha adquirido Sweetwood Smoke & Co., el fabricante de FATTY Smoked Meat Sticks. No se divulgaron los términos financieros de la adquisición. Los productos FATTY se describen como bocadillos ricos en proteínas, más saludables, elaborados con carne de cerdo y res de alta calidad, ahumados con auténtica madera de nogal. Esta adquisición se alinea con el enfoque estratégico de Conagra en las categorías de bocadillos y congelados.
Sean Connolly, CEO de Conagra, afirmó que este movimiento es parte de la reestructuración de su cartera para un crecimiento más rápido. Ryan Wood, fundador de Sweetwood Smoke & Co., expresó su entusiasmo por trabajar con Conagra para expandir el alcance de FATTY. Es importante destacar que Conagra confirmó que esta transacción no afectará su guía para el año fiscal 25 emitida el 11 de julio de 2024.
Conagra Brands, Inc. (NYSE: CAG)가 FATTY Smoked Meat Sticks의 제조업체인 Sweetwood Smoke & Co.를 인수했습니다. 인수의 재무 조건은 공개되지 않았습니다. FATTY 제품은 고품질 돼지고기와 소고기로 만들어진 단백질이 풍부한 건강한 간식으로, 진짜 히코리 나무로 훈제되었습니다. 이번 인수는 Conagra가 snack 및 냉동 카테고리에 집중하는 전략적 목표와 일치합니다.
Conagra의 CEO인 Sean Connolly는 이번 결정이 더 빠른 성장을 위한 포트폴리오 재편의 일환이라고 밝혔습니다. Sweetwood Smoke & Co.의 창립자인 Ryan Wood는 FATTY의 범위를 확장하기 위해 Conagra와 협력하게 되어 기쁘다고 전했습니다. 중요한 것은 Conagra가 이번 거래가 2024년 7월 11일에 발표한 FY25 가이드라인에 영향을 미치지 않을 것이라고 확인한 점입니다.
Conagra Brands, Inc. (NYSE: CAG) a acquis Sweetwood Smoke & Co., le fabricant des FATTY Smoked Meat Sticks. Les termes financiers de l'acquisition n'ont pas été divulgués. Les produits FATTY sont décrits comme des collations riches en protéines, meilleurs pour la santé, fabriquées avec du porc et du bœuf de haute qualité, fumés avec du réel bois de hickory. Cette acquisition s'inscrit dans la stratégie de Conagra axée sur les catégories de collations et de produits surgelés.
Sean Connolly, PDG de Conagra, a déclaré que ce mouvement fait partie d'une restructuration de leur portefeuille pour une croissance plus rapide. Ryan Wood, fondateur de Sweetwood Smoke & Co., a exprimé son enthousiasme à travailler avec Conagra pour étendre la portée de FATTY. Il est important de noter que Conagra a confirmé que cette transaction n'affecterait pas ses prévisions pour l'exercice 25 émises le 11 juillet 2024.
Conagra Brands, Inc. (NYSE: CAG) hat Sweetwood Smoke & Co. übernommen, den Hersteller von FATTY Smoked Meat Sticks. Die finanziellen Bedingungen der Übernahme wurden nicht bekannt gegeben. FATTY-Produkte werden als proteinreiche, gesündere Snacks beschrieben, die aus hochwertigem Schweine- und Rindfleisch bestehen und mit echtem Hickoryholz geräuchert werden. Diese Übernahme passt zu Conagras strategischem Fokus auf die Snacking- und Frozen-Kategorien.
Sean Connolly, CEO von Conagra, erklärte, dass dieser Schritt Teil der Neugestaltung ihres Portfolios für ein schnelleres Wachstum sei. Ryan Wood, Gründer von Sweetwood Smoke & Co., äußerte seine Vorfreude auf die Zusammenarbeit mit Conagra zur Erweiterung der Reichweite von FATTY. Wichtig ist, dass Conagra bestätigte, dass diese Transaktion keine Auswirkungen auf die am 11. Juli 2024 veröffentlichte FY25-Prognose haben wird.
- Acquisition of FATTY Smoked Meat Sticks aligns with Conagra's strategic focus on snacking category
- Expansion into premium, better-for-you snack market
- Potential for faster growth through portfolio reshaping
- No impact on FY25 guidance, suggesting a manageable integration
- None.
Insights
Conagra's acquisition of FATTY Smoked Meat Sticks aligns with its strategic focus on snacking and frozen categories, potentially boosting its market position. However, the undisclosed financial terms make it challenging to assess the immediate impact on Conagra's financials.
The company's statement that the acquisition doesn't affect FY25 guidance suggests a relatively small deal size. This could indicate a low-risk, high-potential growth strategy, allowing Conagra to enter the premium meat snack market without significantly impacting its balance sheet.
Investors should monitor how this acquisition contributes to Conagra's portfolio reshaping efforts and its potential to drive faster growth in the competitive snack market.
The acquisition of FATTY Smoked Meat Sticks positions Conagra strategically in the growing better-for-you snack segment. This move capitalizes on the increasing consumer demand for protein-rich, convenient snacks, particularly among health-conscious and on-the-go consumers.
The premium positioning of FATTY products could help Conagra capture a higher-margin share of the meat snack market, which has seen significant growth in recent years. However, success will depend on Conagra's ability to scale the brand while maintaining its premium quality and appeal.
This acquisition also reflects a broader industry trend of larger food companies acquiring niche, health-focused brands to diversify their portfolios and appeal to changing consumer preferences.
FATTY Smoked Meat Sticks are protein-packed, better-for-you snacks for people on the go, made with high-quality pork and beef smoked with real hickory wood.
"The acquisition of FATTY Smoked Meat Sticks is another step in reshaping our portfolio for faster growth," said Sean Connolly, president and chief executive officer of Conagra Brands. "Adding a premium brand such as FATTY to our growing, better-for-you snack portfolio is consistent with our strategic focus on the snacking and frozen categories."
"As a lifelong athlete and adventure enthusiast, I have always valued convenient, high protein snacks, made with quality ingredients, which is why we created FATTY," said Ryan Wood, founder and chief executive officer of Sweetwood Smoke & Co. "I'm looking forward to working with Conagra to make FATTY products available to more people with big appetites for meat sticks."
The Company separately confirmed that its FY25 guidance issued on July 11, 2024, would not have been affected by this transaction.
About Conagra Brands
Conagra Brands, Inc. (NYSE: CAG), is one of North America's leading branded food companies. We combine a 100-year history of making quality food with agility and a relentless focus on collaboration and innovation. The company's portfolio is continuously evolving to satisfy consumers' ever-changing food preferences. Conagra's brands include Birds Eye®, Duncan Hines®, Healthy Choice®, Marie Callender's®, Reddi-wip®, Slim Jim®, Angie's® BOOMCHICKAPOP®, and many more. As a corporate citizen, we aim to do what's right for our business, our employees, our communities and the world. Headquartered in Chicago, Conagra Brands generated fiscal 2024 net sales of more than
Sweetwood Smoke & Co. and FATTY
Founded by Ryan Wood, co-founder of Under Armour, Sweetwood Smoke & Co. introduced FATTY Smoked Meat Sticks in 2010 to address the challenge of finding high-quality protein snacks. FATTY is an authentic, provocative, attention-grabbing, lifestyle brand that drives trial on shelf, conversion and loyal, highly-valuable users with high purchase frequency. FATTY products are craveable with mainstream appeal and are known for their fantastic taste because Sweetwood only uses real hickory-smoke while also delivering better-for-you attributes and high-quality protein. In 2024, FATTY was named to the Bain & Company Insurgent Brand list, recognizing it as one of the fastest growing meat stick brands in the country.
MEDIA:
Daniel Hare
daniel.hare@conagra.com
INVESTORS:
Melissa Napier
melissa.napier@conagra.com
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SOURCE Conagra Brands, Inc.
FAQ
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