Conagra Brands Arrives at 2024 NACS Show with Powerhouse Lineup of Snacks

Rhea-AI Summary

Conagra Brands (NYSE: CAG) is set to showcase its $3.2 billion snacks portfolio at the 2024 NACS Show in Las Vegas. The company will unveil new products across its meat snacks, salty snacks, and seeds categories. Highlights include:

- Introduction of FATTY® Smoked Meat Sticks, a recent acquisition
- New offerings from Slim Jim®, including Slim Jim Bites and new formats
- Duke's® Smoked Meat Snacks in new 2.5 oz. bags
- Vlasic® Pickle Balls, a new poppable puff ball snack
- DAVID® Honey Roasted Jumbo Sunflower Seeds and BiGS® Fire Sunflower Seeds
- Glutino® gluten-free pretzels entering the C-store market
- Andy Capp's® Fire Tots, a new spicy puffcorn snack

The company aims to accelerate sales growth through various in-store display solutions.

Positive

• Conagra Brands boasts a $3.2 billion snacks portfolio
• Introduction of FATTY® Smoked Meat Sticks, expanding the better-for-you snacking options
• Slim Jim Bites tapping into the fastest-growing segment of bite-sized meat snacks, up 19% over the past year
• New product launches across multiple brands, including Vlasic, DAVID, BiGS, Glutino, and Andy Capp's
• Glutino entering the C-store market, leveraging its success as the No. 1 selling gluten-free pretzel brand in grocery and mass retail outlets

Negative

• None.

Insights

Market Research Analyst

Conagra Brands' presence at the 2024 NACS Show highlights their strong position in the $3.2 billion snacks portfolio. The company is unveiling several new products across meat snacks, salty snacks and seeds categories, targeting the lucrative convenience store market.

Key innovations include:

• FATTY® Smoked Meat Sticks: A new acquisition expanding their better-for-you snacking options
• Slim Jim Bites: Tapping into the fast-growing bite-sized meat snacks segment, up 19% year-over-year
• Vlasic® Pickle Balls: Leveraging the popularity of pickle flavors and the No. 1 dollar share brand in shelf-stable pickle spears
• New flavors and formats for DAVID® and BiGS® sunflower seeds
• Glutino® gluten-free pretzels entering the C-store market

These product launches demonstrate Conagra's strategy to capitalize on growing trends such as protein-rich snacks, bold flavors and healthier options. The company's focus on convenience store distribution and innovative packaging formats could drive incremental sales growth in this high-margin channel.

Financial Analyst

Conagra's strategic focus on the convenience store channel and snack innovations is a positive move for the company's financial outlook. The snack category, particularly meat snacks and seeds, offers higher profit margins compared to traditional packaged foods. By expanding their presence in C-stores and introducing new products, Conagra is positioning itself for potential revenue growth and margin expansion.

Key financial implications:

• Diversification of revenue streams through new product lines and formats
• Potential for increased market share in the growing $5 billion hot and spicy snack category
• Leveraging existing brand equity (e.g., Slim Jim, DAVID) to drive sales with lower marketing costs
• Expansion into premium-priced segments like gluten-free with Glutino

While specific financial projections aren't provided, these initiatives align with industry trends and could contribute positively to Conagra's top and bottom lines in the coming quarters. Investors should monitor the performance of these new products and their impact on overall snack segment growth within Conagra's portfolio.

Sweet, spicy, and salty new innovation from industry-leading brands to be unveiled

CHICAGO, Oct. 8, 2024 /PRNewswire/ -- Conagra Brands, Inc. (NYSE: CAG), one of North America's leading branded food companies, is ready for the neon lights of Las Vegas and the 2024 National Association of Convenience Stores (NACS) Show. Featuring a $3.2 billion¹  snacks portfolio, Conagra's offerings are a sure bet, with industry-leading meat snacks, sunflower seeds and bagged salty snacks. The NACS Show, the nation's largest convenience store expo, takes place October 8-10, at the Las Vegas Convention Center. Attendees at the Expo can find Conagra Brands in two locations. Conagra's portfolio of meat snacks will be in Booth C4215, while Booth N829 will house the collection of salty snacks.

"Each year the NACS Show serves as an unveiling for our snacks innovation for the year," said Lucy Brady, President, Grocery and Snacks for Conagra Brands. "Across meat snacks, salty snacks and seeds, we're excited to showcase new items that will arrive in stores this fall, along with industry-leading favorites that are a must have for any C-store."

Welcome to the team, FATTY!

The NACS Show marks the debut of the newest brand in the Conagra Brands portfolio, FATTY® Smoked Meat Sticks, acquired in August. Made for people on the go, FATTY Smoked Meat sticks are protein-packed, better-for-you snacks made with high-quality pork and beef, smoked with real hickory wood. New offerings from FATTY include the 1.6 oz.  Honey BBQ and Buffalo style smoked Chicken Sticks.

"We're thrilled to welcome FATTY Smoked Meat Sticks to our roster," said Erik Havlick, VP & General Manager. "FATTY builds on our growing collection of better-for-you snacking options. Combined with Slim Jim and Duke's, we have a powerhouse trio of meat snack options to offer C-store customers and consumers."

WWE Superstar "Meat and Greet"  

As the Official Meat Snack of WWE,® Slim Jim® is bringing Superstar power to the NACS Show. WWE Superstar and current U.S. champion LA Knight will be appearing at the Conagra Brands meat snacks booth (C4215) from 1-3 p.m. on Wednesday, October 9. LA Knight will be available for photos and autographs.

Beyond the WWE partnership, Slim Jim will showcase several new items shipping to stores in late November. Slim Jim is offering a new way to enjoy bold, meaty flavor with Slim Jim Bites, a snack that's small in stature but big on taste. These 3.75 oz. resealable bags – available in Original and Mild – are perfect for grazing or whenever hunger strikes. Up 19% over the past year, bite-sized meat snacks are the category's fastest growing segment, with $234 million in annual sales². Slim Jim Bites have a suggested retail price of $6.49.

New Slim Jim formats and flavors offer even more variety from America's No. 1 meat stick brand³. Also debuting this November from Slim Jim are:

• Monster Twin Mild: A twin pack of the 1.94 oz. Monster Slim Jim. At 3.88 oz., it offers more meat than the top-selling C-store jerky and includes 22g of protein The twin pack retails for $5.99
• Giant Twin Sweet and Hot: The popular sweet heat flavor profile features in a multipack format of the iconic .97 oz. Slim Jim Giant stick. Available for a retail price of $3.29
• Short Boi Twin – Original & Mild: Perfect for front of rack placement, the Short Boi is half the length of the Giant stick but with all the meat! The two most popular Slim Jim Short Boi flavors are now available in a twin pack for $3.29

Duke's® Smoked Meat Snacks also has a new way to enjoy the brand's top-selling Smoked Shorty Sausages. New 2.5 oz. bags Original, Hot & Spicy and Hatch Green Chile offer fresh, never-frozen pork and real ingredients. At $4.99 per bag, the new packs are an attractive option for consumers seeking snacks under $5 at the front of the store.

The Next Big Dill in Snacks

With an authentic dill pickle flavor and satisfying crunch, new Vlasic® Pickle Balls are a poppable puff ball snack, destined to be a smash hit. Perfect for before or after your next pickleball match, or any other time you crave a salty snack, this snack features the great taste of Vlasic pickles, the No. 1 dollar share brand in shelf stable pickle spears⁴. Shipping to stores in late November, Vlasic Pickle Balls are available in a 2 oz. bag for C-stores, which retails for $2.49, as well as a take-home 6.5 oz. bag.

Seeds of Growth

Conagra's seeds duo of DAVID® and BiGS®, the two top-selling brands in category⁵, have something sweet and something hot for seeding enthusiasts. DAVID, the #1 seed brand in the U.S. ⁶, is debuting the first honey-roasted flavored sunflower seed from a major seed brand. With 8g of protein per ¼ cup serving, DAVID Honey Roasted Jumbo Sunflower Seeds are buzzing with flavor. Available in a 5.25 oz. bag, the Honey Roasted Seeds have a suggested retail price of $2.69.

Tapping into the rapidly growing hot and spicy flavor snacking category, BiGS is offering new BiGS Fire Sunflower Seeds. Hot and Spicy snacks – a $5 billion flavor space – are up $1.9 billion over the last three years⁷. The new offering from BiGS, the leader in flavored sunflower seeds⁸, features big, bold, chili-pepper flavor that's certain to bring the heat. A 5.35 oz. bag retails for $3.29 Both new seeds will ship to stores in late November.

Glutino Debuts in C-Stores

Glutino®, a longtime leader in the gluten free snacks category, is arriving in C-stores for the first time. Two varieties of gluten-free pretzels - Vlasic® Dill Pickle flavored and Honey Mustard flavored pretzels twists – will be available in 2.75 oz. snack-sized bags beginning in late November. These flavors debuted in an 11 oz. format earlier this spring, making Glutino the No. 1 selling gluten-free pretzel twists and sticks brand in grocery and mass retail outlets⁹. The C-store bags have a suggested retail price of $2.99.

Andy Capp's on Fire

Andy Capp's®, the No. 1 unit velocity brand in warehouse salty snacks¹⁰, continues its hot streak with new Andy Capp's Fire Tots. These melt-in-your mouth puffcorn snacks in the shape of a tater tot offer the same deliciously spicy heat as Andy Capp's Fire Fries. A 1.5 oz. bag, debuting in November, is perfect for a quick snack and retails for $1.49.

Throughout the NACS Show the Conagra Brands sales team connects with customers to discuss in-store solutions that accelerate sales growth. A range of in-aisle, end cap, checkout lane and counter-top displays give C-store customers the ability to bring added visual appeal to these standout snacks.

For more information on Conagra Brands, including innovation from the company's roster of nearly 100 brands, visit conagrabrands.com.

1-10: Source: Circana POS, MULO+ w/ CONV, L52 WE 8/25/2024

WWE is a trademark of World Wrestling Entertainment, Inc.

Andy Capp is a trademark of MGN Limited. ©2005

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 $12 billion. For more information, visit www.conagrabrands.com.

For all media inquiries, please contact: 
Dan Skinner
Conagra Brands
(312) 549 -5636
Dan.Skinner@conagra.com

 

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SOURCE Conagra Brands, Inc.

FAQ

What new products is Conagra Brands (CAG) introducing at the 2024 NACS Show?

Conagra Brands is introducing several new products, including FATTY® Smoked Meat Sticks, Slim Jim Bites, Vlasic® Pickle Balls, DAVID® Honey Roasted Jumbo Sunflower Seeds, BiGS® Fire Sunflower Seeds, Glutino® gluten-free pretzels for C-stores, and Andy Capp's® Fire Tots.

How much is Conagra Brands' (CAG) snacks portfolio worth?

Conagra Brands' snacks portfolio is worth $3.2 billion according to the press release.

When will Conagra Brands (CAG) start shipping its new products to stores?

Most of the new products mentioned in the press release, including Slim Jim Bites, Vlasic Pickle Balls, and the new seed offerings, will start shipping to stores in late November 2024.

What is the growth rate of bite-sized meat snacks, according to Conagra Brands (CAG)?

According to the press release, bite-sized meat snacks are up 19% over the past year, making it the category's fastest-growing segment with $234 million in annual sales.