Conagra Pinnacle Merger
Big brand news today as we find out that the Conagra Brand has purchased Pinnacle Foods. This acquisition is big news for two frozen foods giants. And, believe it or not, according to Bloomberg, frozen foods are making a big come back with millennials who are embracing frozen foods. This, new found love of frozen foods, is due to healthier options, that millennials love, and are far less expensive than takeout.
Onto this transaction and what it means for you, the consumer….
Brands Included In Merger
To refresh your memory, Conagra includes names such as Marie Callender’s, Hunts, Healthy Choice, Reddi-wip, Slim Jim and Orville Redenbacher. They also have some newer names in the mix which include Alexia, Frontera, Duke’s, Angie’s Boomhickapop and Blake’s.
For Pinnacle, their brands included, Birds Eye, Duncan Hines, Earth Balance, EVOL, Erin’s, Gardein, Glutino, Hawaiian Kettle Style Potato Chips, Hungry-Man, Log Cabin, Tim’s Cascade Snacks, Udi’s, Vlasic and Wish-Bone, among other.
Sean Connolly, president and chief executive officer of Conagra Brands said, “The addition of Pinnacle Foods’ leading brands in the attractive frozen foods and snacks categories will create a tremendous opportunity for us to further leverage our proven innovation approach, brand-building capabilities, and deep customer relationships.
How Will It Effect Prices and Coupons
As price conscious consumers, our first thought is, what does this mean for pricing and coupons. That’s a darn good question. When we compare the two brands, Pinnacle has always had more coupons, sales and store promotions than the brands from Conagra. Hopefully, Conagra will continue with those coupons, sales and store promotions once the merger is complete. However, time will tell and we will be watching closely to see how it pans out.
Financial Details of the Merger
If you’d like to know more about the financial end of the merger, including transaction details, shareholder info and more, you can view the press release from Pinnacle.
