ConAgra Foods is consolidating its $12 billion retail food operations – the second largest in America – under a single banner.
Branded ConAgra Retail Food Products, the new unit will bring together ConAgra Dairy, ConAgra Refrigerated Products, ConAgra Frozen and ConAgra Grocery Products.
Heading the new company is F Martin Thrasher, former president of Campbell Soup’s US business. To comply with a non-competition agreement between Thrasher and his former employer, the Chef Boyardee and Homestyle Bakes brands will be shifted to a discrete company for one year.
Combining the four units will, said ConAgra vp–marketing and communications Tim McMahon, allow the company to present retail customers with a single face, and promote marketing opportunities across brands.
News source: Advertising Age - Daily Deadline