Conagra looking to acquire Pinnacle Foods
Chicago, Illinois-based Conagra, whose brands include Frontera salsa and Orville Redenbacher's popcorn, has been seeking to reinvent itself since selling its private label unit for $2.7 billion in 2016 to focus on its branded food business.
Conagra split in two last year, spinning off Lamb Weston Holdings Inc. and changing its name from Conagra Foods to Conagra Brands while looking to focus on healthier options in its food lineup, which includes brands like Slim Jim, Chef Boyardee, and Orville Redenbacher's.
Pinnacle owns grocery brands including Bird's Eye frozen vegetables and Vlasic pickles, though it recently said it would stop selling some frozen breakfast items under the Aunt Jemima brand.
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