USA: Conagra Brands to sell business unit to Utz Quality Foods

Leading US food manufacturer Conagra Brands has announced it has reached an agreement to sell its direct store delivery snacks business to Utz Quality Foods, described as the largest privately held savoury snack firm in the USA, for an undisclosed sum.

Crisp, popcorn, pretzel and savoury snack brands such as Tim’s Cascade Snacks, Hawaiian Snacks, Erin’s, Snyder of Berlin and Husman’s will now transfer to Utz Quality Foods.

“We continue to reshape our portfolio and focus our resources on priorities that support Conagra’s business strategy and create value for shareholders”, said Conagra Brands president and chief executive officer Sean Connolly. “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”.

Utz Quality Foods CEO Dylan Lissette added: “We are excited about the opportunity to add these important brands and capabilities to our portfolio”.

Conagra Brands took on the DSD snacks business in October 2018 as part of its acquisition of Pinnacle Foods.

Source: Conagra Brands