Conagra acquires Thanasi Foods
PRNewswire
CHICAGO - Conagra Brands has entered into a definitive agreement to acquire protein-based snacking businesses Thanasi Foods LLC, maker of Duke's meat snacks, and Bigs LLC, maker of Bigs seeds.
Financial terms were not disclosed. The transaction is expected to close summer 2017.
Duke's is a growing premium meat snack brand with products including Duke's Smoked Shorty Sausages and Duke's Steak & Brisket Strips. Duke's products are made in small batches with quality ingredients and authentic hardwood smoke pairings.
Bigs produces a line of premium seed snacks, including jumbo in-shell sunflower seeds, sunflower seed kernels and roasted pumpkin seeds.
"This is another exciting step in our ongoing efforts to reshape our portfolio to be more premium and modern," said Sean Connolly, president and chief executive officer of Conagra Brands. "These on-trend brands extend our meat snacks and seeds businesses into faster-growing, more premium segments. We are looking forward to working with the Thanasi team to grow the brands further and create value for our shareholders."
The Duke's and Bigs brands will continue operating out of Boulder, Colorado.
Conagra Brands manages the Slim Jim meat stick brand and the David Seeds brand.