CHICAGO, Aug. 9, 2024
/PRNewswire/ -- Today Conagra Brands, Inc. (NYSE: CAG) announced
that it has acquired Sweetwood Smoke & Co., maker of FATTY
Smoked Meat Sticks. Financial terms were not disclosed.
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 $12 billion. For more information,
visit www.conagrabrands.com.
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.