Lender’s Bagels – which Conagra acquired as part of its $10.9bn purchase of Pinnacle Foods in 2018 – markets a range of refrigerated and frozen bagels in the US.
Late last year, Conagra also offloaded its direct-store-delivery (DSD) snacks business to Utz Quality Foods – another unit acquired as part of the Pinnacle Foods purchase – to focus on its core business operations.
“We continue to reshape our portfolio and focus our resources on priorities that support Conagra’s business strategy and create value for shareholders,” said Sean Connolly, Conagra Brands’ CEO.
The Lender’s divestiture was announced in Conagra’s second-quarter results last month, which Conagra said will help to reduce net sales by approximately $50m. The transaction includes the Lender's brand and related intellectual property, as well as its production facility in Mattoon, Illinois.
Conagra estimates the transaction will be completed in the third quarter of its 2020 fiscal year.
Conagra’s recent growth has been driven by meat snacks and sweet treats, which posted 7.8% and 7.3% year-over-year revenue growth in Q2, respectively. The company is expected to continue to capitalise on these categories’ growth momentum by launching new products – like keto-friendly cakes and co-branded Oreo cake cups – and packaging in 2020.
Thomas’ Bagels celebrates 140th anniversary on National Bagel Day
Bimbo Bakeries USA-owned Thomas’ Bagels is kicking off a year of celebrations on National Bagel Day today (January 15).
Last year, the brand worked with Chase’s Calendar of Events to declare January 15 as National Bagel Day, breaking away from sharing the spotlight with National Pizza Day.
To thank fans for their ‘dough-votion', between 7am and 1pm today, Thomas' will be giving away free bagels topped with cream cheese at pop-up stations in Chicago, Denver, Los Angeles, Orlando and Philadelphia.
Hiding in one free bagel in each city is a coveted orange ticket, redeemable for a smart watch. To make the search even more exciting, in one randomly selected city, a golden ticket holds a grand prize of a $2,500 grocery shopping spree.
“Bagels are a delicious and treasured member of the Thomas’ family, so we couldn’t think of a better way to kick off our year-long 140th anniversary than with a nationwide celebration of National Bagel Day,” said Eduardo Zarate, senior director of Marketing for Thomas’.
“Fans loved our pop-up celebration in Philadelphia last year, so we’re excited to bring together bagel fans from all across the country in 2020 as we ‘toast’ to this iconic classic on January 15th.”
Pop-up locations:
- Union Station, 225 S Canal St, Chicago, IL 60606
- Larimer Square, 1430 Larimer St, Denver, CO 80202
- Union Station, 800 N Alameda St, Los Angeles, CA 90012
- 30th Street Station, 2955 Market St, Philadelphia, PA 19104
- Lynx Central Station, 455 N Garland Ave, Orlando, FL 32801