ConAgra Foods Completes Spin-off of Lamb Weston Business and Becomes Conagra Brands
November 10 2016 - 7:30AM
Business Wire
Conagra Brands, Inc. (NYSE: CAG), formerly known as ConAgra
Foods, Inc., has completed the previously announced separation of
its Lamb Weston business. The company’s name change has also become
effective.
“This marks an exciting new chapter for Conagra. We are now a
pure-play company with a renewed focus on capturing growth and
driving shareholder value,” said Sean Connolly, president and chief
executive officer of Conagra Brands. “This has been a time of
tremendous change and I want to thank all of our employees for
their efforts and determination during this transformation.”
For the first time in Conagra’s history, the company will be a
singularly focused, consumer branded food company. The company name
change to Conagra Brands reflects this new direction and
streamlined focus. Conagra Brands’ annualized net sales are
expected to approximate $8 billion. The company’s common stock
continues to trade on the New York Stock Exchange under the ticker
symbol “CAG”. Lamb Weston Holdings, Inc., now an independent
company, trades on the New York Stock Exchange under ticker symbol
“LW”.
About Conagra Brands
Conagra Brands, Inc. (NYSE: CAG), headquartered in Chicago, is
one of North America’s leading branded food companies. Guided by an
entrepreneurial spirit, Conagra Brands combines a rich heritage of
making great food with a sharpened focus on innovation. The
company’s portfolio is evolving to satisfy people’s changing food
preferences. Conagra’s iconic brands, such as Marie Callender’s®,
Reddi-wip®, Hunt’s®, Healthy Choice®, Slim Jim® and Orville
Redenbacher's®, as well as emerging brands, including Alexia®,
Blake’s® and Frontera®, offer choices for every occasion. With an
ongoing commitment to corporate citizenship, Conagra Brands has
been named to the Dow Jones Sustainability™ North America Index for
six consecutive years. For more information, visit
www.conagrabrands.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20161110005494/en/
Conagra Brands, Inc.MEDIA: Mike
Cummins312-549-5257michael.cummins@conagra.comorINVESTORS: Johan
Nystedt312-549-5002ir@conagra.com
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