Conagra to acquire protein snack maker Thanasi Foods
Conagra Brands has entered a definitive agreement to acquire protein-based snacking businesses Thanasi Foods, maker of Duke’s meat snacks, and BIGS LLC, maker of BIGS seeds.
Conagra Brands has entered a definitive agreement to acquire protein-based snacking businesses Thanasi Foods, maker of Duke’s meat snacks, and BIGS LLC, maker of BIGS seeds.
Duke’s is a fast-growing premium meat snack brand, with products including Duke’s Smoked Shorty Sausages and Duke’s Steak & Brisket Strips. 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.”
Following the completion of the transaction, the Duke’s and BIGS brands will continue operating out of Boulder, Colo. Financial terms were not disclosed. The transaction is subject to customary closing conditions, including the receipt of regulatory approval, and is expected to close summer 2017.