Conagra Brands Acquires FATTY Smoked Meat Sticks

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Aug 09, 2024, 09:00 ET

CHICAGO, Aug. 9, 2024 /PRNewswire/ -- Today Conagra Brands, Inc. (NYSE: CAG) announced that it has acquired Sweetwood Smoke & Co., maker of FATTY Smoked Meat Sticks. Financial terms were not disclosed.

FATTY Smoked Meat Sticks are protein-packed, better-for-you snacks for people on the go, made with high-quality pork and beef smoked with real hickory wood.

"The acquisition of FATTY Smoked Meat Sticks is another step in reshaping our portfolio for faster growth," said Sean Connolly, president and chief executive officer of Conagra Brands. "Adding a premium brand such as FATTY to our growing, better-for-you snack portfolio is consistent with our strategic focus on the snacking and frozen categories."

"As a lifelong athlete and adventure enthusiast, I have always valued convenient, high protein snacks, made with quality ingredients, which is why we created FATTY," said Ryan Wood, founder and chief executive officer of Sweetwood Smoke & Co. "I'm looking forward to working with Conagra to make FATTY products available to more people with big appetites for meat sticks."

The Company separately confirmed that its FY25 guidance issued on July 11, 2024, would not have been affected by this transaction.

About Conagra Brands

Conagra Brands, Inc. (NYSE: CAG), is one of North America's leading branded food companies. We combine a 100-year history of making quality food with agility and a relentless focus on collaboration and innovation. The company's portfolio is continuously evolving to satisfy consumers' ever-changing food preferences. Conagra's brands include Birds Eye^®, Duncan Hines^®, Healthy Choice^®, Marie Callender's^®, Reddi-wip^®, Slim Jim^®, Angie's^® BOOMCHICKAPOP^®, and many more. As a corporate citizen, we aim to do what's right for our business, our employees, our communities and the world. Headquartered in Chicago, Conagra Brands generated fiscal 2024 net sales of more than $12 billion. For more information, visit www.conagrabrands.com.

Sweetwood Smoke & Co. and FATTY

Founded by Ryan Wood, co-founder of Under Armour, Sweetwood Smoke & Co. introduced FATTY Smoked Meat Sticks in 2010 to address the challenge of finding high-quality protein snacks. FATTY is an authentic, provocative, attention-grabbing, lifestyle brand that drives trial on shelf, conversion and loyal, highly-valuable users with high purchase frequency. FATTY products are craveable with mainstream appeal and are known for their fantastic taste because Sweetwood only uses real hickory-smoke while also delivering better-for-you attributes and high-quality protein. In 2024, FATTY was named to the Bain & Company Insurgent Brand list, recognizing it as one of the fastest growing meat stick brands in the country.

MEDIA:
Daniel Hare
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INVESTORS:
Melissa Napier
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SOURCE Conagra Brands, Inc.