The Chicago-based firm said last month that it had reach an agreement to take over the protein snacking business Thanasi Foods, and the deal has now been completed.
Thanasi Foods has two brands: Duke’s, which makes meat snacks; and Bigs, a producer of US-grown sunflower seeds, sunflower seed kernels and roasted pumpkin seeds.
Premium growth plans
“The addition of Duke’s and Bigs is another move to reshape Conagra’s portfolio to be more premium and modern,” said Sean Connolly, president and chief executive officer of Conagra Brands.
“We welcome the Thanasi team to Conagra and look forward to working together to grow the brands.”
Both of Thanasi Foods’ brands will continue to operate out of the firm’s headquarters in Boulder, Colorado, but will benefit from Conagra’s firepower to increase sales.
Conagra, on the other hand, hopes the purchase of Thanasi Foods will complement its efforts to expand in the high-value, high-end food snacks market. With third-quarter net sales down nearly 10% year-on-year, Conagra is radically changing its product portfolio to reverse falling sales.