ConAgra Foods today (14 May) played down the prospect of more brands being offloaded in the wake of the sale of jam brand Knott’s Berry Farm to fellow US food maker J. M. Smucker.
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ConAgra told just-food that Knott’s Berry Farm was a “good brand” but was “no longer a priority” for the company, which is looking to focus on a stable of products including Egg Beaters and Chef Boyardee.
“Smucker said Knott’s Berry Farm would add US$40m in sales but, for a $12bn company like ConAgra Foods, that is small piece of the pie,” a spokesman said. “Other brands are more of a priority and we didn’t have any plans to spend any marketing dollars against it.”
The spokesman said ConAgra was looking to position itself as a “health and wellness company”. He added: “We are really looking to focus on categories that could grow and on brands that have a higher potential.”
The sale of Knott’s Berry Farm comes just weeks after ConAgra sold off its commodity trading business.
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By GlobalDataThe spokesman said that sale was made to allow ConAgra to focus on food. “From an investor perspective, if you are going to invest your dollars in a food company, you’re not going to invest in a trading and merchandising business. That sale was made to make ConAgra a pure food play.”
