Why Conagra bought Sandwich Bros.
Conagra is making another move toward overhauling its portfolio of brands to become more relevant to today’s consumers.
The company has acquired Sandwich Bros., which produces frozen breakfast and entrée flatbread pocket sandwiches. Sandwich Bros. flatbread pocket sandwiches offer consumers on-the-go convenience and are filled with proteins such as 100% Angus beef, chicken raised without antibiotics, all natural sausage and real Wisconsin cheese. The products will continue to be made in Milwaukee, Wis.
Bold flavors, on-the-go convenience and health and wellness are all at the forefront for consumer food preferences in 2018, and the millennial generation is frequently driving those choice options.
Conagra paid $87 million in cash for Sandwich Bros., net of cash acquired and subject to working capital adjustments, according to Conagra's 10-Q report filed in January.
Sean Connolly, president and CEO of Conagra Brands, said when the company announced the deal in December that Sandwich Bros. will add to Conagra's frozen handheld category and offers opportunities to extend its capabilities into other Conagra brands.