ConAgra to exit refrigerated meats operations
Feb 3, 2006 9:05 AM, from staff and wire reports
ConAgra Foods Inc plans to divest most of its refrigerated meats businesses, including the Armour, Butterball, and Eckrich brands. The company also announced several changes designed to streamline its operations.
Combined annual sales for the businesses being offered for sale are about $1.9 billion. Realignment will include:
•Retail and Culinary Products businesses will be combined to form Consumer Foods. Dean Hollis, president and chief operating officer–Consumer Foods, will oversee these businesses, which include dairy, frozen, grocery, packaged meats and deli, snacks, store brands, and international.
•The ConAgra Foods Sales organization will assume responsibility for both retail and foodservice customers. Doug Knudsen, president–ConAgra Foods Sales, will oversee the combined ConAgra Foods sales organization.
•Grocery Foods headquarters will move from Irvine CA to Naperville IL, which is currently headquarters of ConAgra's dairy and meats businesses.
•Employees in shared functions, including product quality and development, sales and operations planning, and transportation and warehousing management, will be relocated to Omaha NE.
