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Conagra (CAG) to Revamp Portfolio on Thanasi & BIGS Buyout
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Premium processed & packaged foods company, Conagra Brands, Inc. (CAG - Free Report) recently signed a definitive agreement to acquire Thanasi Foods LLC (Thanasi) and BIGS LLC (BIGS), for an undisclosed amount. The move is in sync with the company’s portfolio remodeling initiative. The deal is subject to regulatory approvals and customary closing formalities. However, Conagra expects to close the transactions by this summer.
Over the last one month, Conagra’s shares yielded a return of 5.33%, outperforming the Zacks categorized Food-Miscellaneous industry’s gain of 2.19%.
This Zacks Rank #2 (Buy) company has been consistently restructuring its portfolio through strategic divestitures and acquisitions to enhance overall performance.
Inside the Headlines
Thanasi owns the renowned fast-growing meat snack brand, Duke’s. Steak & Brisket Strips and Smoked Shorty Sausages are the key products offered under the Duke’s brand. These are produced in small batches with original hardwood smoke pairings and quality intermediate ingredients.
On the other hand, BIGS is known for offering premium seed snacks to consumers. Jumbo in-shell sunflower seeds, roasted pumpkin seeds and sunflower seed kernels are some popular seed snacks traded under the BIGS brand.
Currently, Conagra manages the David seeds brand and Slim Jim meat snack brand. The company believes that the strategic inclusion of on-trend brands like Thanasi and BIGS would reinforce its seed and meat business lines.
Other Stocks to Consider
Some other similarly-ranked stocks in the industry are listed below:
Energizer Holdings, Inc. (ENR - Free Report) has an average earnings surprise of 20.50% for the trailing four quarters.
The Hershey Company (HSY - Free Report) has an average earnings surprise of 7.85% for the past four quarters.
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Conagra (CAG) to Revamp Portfolio on Thanasi & BIGS Buyout
Premium processed & packaged foods company, Conagra Brands, Inc. (CAG - Free Report) recently signed a definitive agreement to acquire Thanasi Foods LLC (Thanasi) and BIGS LLC (BIGS), for an undisclosed amount. The move is in sync with the company’s portfolio remodeling initiative. The deal is subject to regulatory approvals and customary closing formalities. However, Conagra expects to close the transactions by this summer.
Over the last one month, Conagra’s shares yielded a return of 5.33%, outperforming the Zacks categorized Food-Miscellaneous industry’s gain of 2.19%.
This Zacks Rank #2 (Buy) company has been consistently restructuring its portfolio through strategic divestitures and acquisitions to enhance overall performance.
Inside the Headlines
Thanasi owns the renowned fast-growing meat snack brand, Duke’s. Steak & Brisket Strips and Smoked Shorty Sausages are the key products offered under the Duke’s brand. These are produced in small batches with original hardwood smoke pairings and quality intermediate ingredients.
On the other hand, BIGS is known for offering premium seed snacks to consumers. Jumbo in-shell sunflower seeds, roasted pumpkin seeds and sunflower seed kernels are some popular seed snacks traded under the BIGS brand.
Currently, Conagra manages the David seeds brand and Slim Jim meat snack brand. The company believes that the strategic inclusion of on-trend brands like Thanasi and BIGS would reinforce its seed and meat business lines.
Other Stocks to Consider
Some other similarly-ranked stocks in the industry are listed below:
Blue Buffalo Pet Products, Inc. (BUFF - Free Report) has an average earnings surprise of 6.83% for the last four quarters. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Energizer Holdings, Inc. (ENR - Free Report) has an average earnings surprise of 20.50% for the trailing four quarters.
The Hershey Company (HSY - Free Report) has an average earnings surprise of 7.85% for the past four quarters.
5 Trades Could Profit ""Big-League"" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>