ConAgra Foods, Inc. is a USA based FMCG company involved in the marketing and selling activities of its various packaged food brands.
It is headquartered in Nebraska. It has various products under its portfolio including cooking oils, hot cocoa, peanut butter, frozen dinners and others. Some of its popular brands are Hunt’s , Slim Jim, Hebrew National, Bertolli ready meals, Heathy Choice and P.F. Chang’s.
The company founders Frank Little and Alva Kinney brought together four grain mills as NCM (Nebraska Consolidated Mills) to form Con Agra in 1919. The company was successful in its initial decade recording profits till 1936. After which it expanded to other businesses like livestock business in 1942.
In 1951, their venture with Duncan Hines brand of cake mixes was very successful, leading the company to become the third largest flour miller in the United States. But this venture did not last for long as in 1956 it sold off its assets in the company to P&G. With American households increasingly purchasing prepared and instant foods it decided to turn the tables and formulated a strategy that focused more on raw foods like poultry and live stock feed business. But in 1970s, it lost money expanding into many industries like fertilizer, pet products etc and was at the brink of bankruptcy. It was this time it changed its name to Con Agra. It recovered quickly under the leadership of “Mike” Harper and it set off a two-decade long buying spree of over hundred prepared food brands starting with Banquet Foods.
In 1993, it purchased more than 500 million dollars in small firms and in 1998 it purchased another $480 million in brands from Nabisco. Recently also, ConAgra continued its purchasing spree by acquiring Ralcorp and TaiMei Potato Industry Limited.