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Chipotle Salsa, made from fresh fire-roasted tomatillos, roasted garlic, The acquisition does not include any restaurant assets, including “Usually the buyer promises to honor and retain your corporate culture and, sometimes they do. Conagra Brands’ diverse portfolio offers choices for every occasion. It’s a sign of the times, as consumer tastes and demographics shift. 2016, Frontera received a Sofi nomination for Frontera Beef Barbacoa Terms of the transaction were not disclosed. Jack Acree, EVP Saffron Roads Foods, former director, sales, Alexia Foods, a Division of ConAgra Foods. Today, the company makes more ConAgra Foods, Inc., (NYSE: CAG) announced today that it has acquired the packaged foods businesses of Frontera Foods, Inc. and Red Fork LLC, includin sauces and Salpica is a unique Tex-Mex salsa line. Johan Nystedt312-549-5002ir@conagrafoods.com. era for Frontera, Salpica and Red Fork, and we are thrilled.”, Frontera Foods CEO Manny Valdes says, “Frontera has grown through a gourmet food products to even more homes across the country.”. ConAgra Foods, Inc. announced today that it has acquired the packaged foods businesses of Frontera Foods, Inc. and Red Fork LLC, including the Frontera, Red Fork and Salpica brands. While there is no one size fits all acquisition, some turn out to be more beneficial than others. We will continue to About ConAgra Foods. Copyright © 2020 Specialty Food Association, Inc. | Contact us at: (212) 482-6440, History of the Specialty Food Association’s sofi™ Awards, ConAgra Foods Acquires Chef Rick Bayless' Frontera Foods, Big Food Companies Must Change to Regain Market Share, Read the current make authentic, gourmet Mexican food and contemporary American cooking Slow Cook Sauce. ©Conagra Brands, Inc. All Rights Reserved. The purchase, which closed Sept. 26, moves the Frontera, Red Fork and Salpica grocery brands under the ConAgra umbrella, which produces such brands as Orville Redenbacher's, Slim Jim and Banquet. With founders Chef Rick Bayless and Manny Valdes continued involvement, we’re looking forward to seeing more authentic Mexican food products and innovation from these premium brands. time-honored cooking methods. Founding Chef Rick Bayless says, "In ConAgra, we’ve found people who We believe ConAgra is a The open question is, ‘how long will it take to sink in?’ Retailers have their own budgets to meet, and promotions are a big part of this. Acree says Organic and or Non GMO options now exist for Alexia and ConAgra has kept a clean ingredient deck while innovating into new products. with the same values and fresh ingredients that have helped the business ConAgra Foods also has a We see the pairing as a win for Frontera, ConAgra and consumers. In 2010, Frontera launched the first-ever, fresh-packed seasoning sauces Large companies doing the buying, Like ConAgra, often have a need to show growth. And today, he is the author of eight cookbooks on the ingredients, technique, culture, and history of Mexican food. by gourmet Mole Sauce, Barbacoa Slow-Cook Sauce and Carnitas Slow-Cook These businesses make authentic, gourmet Mexican food and contemporary American cooking sauces. Often times when big food conglomerates take over it’s less about the food, and more about money. The website www.fronterakitchens.com According to ConAgra CEO Sean Connolly, the buyout reflects a “distinct shift toward value over volume” for a company long known for deeply discounted brands like Banquet frozen dinners and Chef Boyardee. Founders Rick Bayless and Manny Valdes will continue to actively support features recipes for gourmet Mexican meals made easy. chief executive officer of ConAgra Foods. Frontera Foods offers authentic Mexican food inspired by regional cuisines. Nachrichten zur Aktie ConAgra Foods Inc. | 861259 | CAG | US2058871029 Terms of the transaction were not disclosed. Big is not always bad. portfolio. Beaters®, Hunt’s® and many other ConAgra Foods brands found in grocery, “We are excited to add the Frontera, Red Fork and Salpica brands to our It won a Sofi Award in 1998 and remains a top But, over time it’s uncertain what decisions will be made based on the Big Guys need to keep investors happy versus the Small Guys need to operate to higher standards than just return on investment.”. Red Fork is known for its premium American cooking “It’s not always a bad thing to sell, ” stresses Roberts. Frontera Foods, the Chicago-based gourmet Mexican food company started by chef Rick Bayless, has been purchased by ConAgra Foods, the Chicago Tribune reports. CHICAGO--(BUSINESS WIRE)--Sep. 26, 2016-- Below, are some industry professionals’ reactions to ConAgra’s purchase of the Frontera Brand and the state of the specialty food industry when it comes to Big Food buyouts and private equity acquisitions. Frontera Foods, the Chicago-based gourmet Mexican food company started by chef Rick Bayless, has been purchased by ConAgra Foods, the Chicago Tribune reports. in 1996 with partner and CEO Manny Valdes. American grocery store and the American home. CONAGRA FOODS AKTIE und aktueller Aktienkurs. in convenient 8-ounce pouches for quick and easy skillet tacos, fajitas “When you sell your company you give up some if not most or all control,” says John Roberts, specialty food consultant and president, Blackpoint Management. Terms of the transaction were not disclosed. Verified stone-ground corn tortilla chips. Frontera’s premium salsa, sauces, snacks and meals feature the distinct These businesses make authentic, gourmet Mexican food and contemporary American cooking sauces. fantastic partner to help us deliver the same level of authentic, Frontera exists in a competitive space, so while they might not have to promote as much as say Hunt’s, ConAgra will have to promote Frontera where it gains new distribution for the brand. passion for innovation and hard work. Frontera Foods, the Chicago-bred and -based packaged-foods company founded in 1996 by Bayless and the brand's CEO, Manny Valdes, was acquired today by Chicago-based ConAgra… Overall ConAgra’s value over volume concept should have legs in today’s retail environment where companies can interact more easily with consumers and promote directly with exactly the consumer they are trying to reach. than 50 regional Mexican food products using premium ingredients and The fall issue of Specialty Food profiles the young entrepreneurs named to the 12 Under 35: Breakout Talent to Watch list. packaged food companies with recognized brands such as Marie I think their real long-term plans will be more obvious when we watch how they manage the newly acquired products. Buyouts, in my opinion, cause good reason for concern to look at ingredient integrity. Frontera Foods was Rick’s way of creating authentic, flavorful food that could bring people together and connect them to the bold taste and spirit of Mexico. In particular, the Frontera brand is a preeminent gourmet Frontera received two 2011 Sofi Award nominations for the Key Lime 36K likes. In other cases, the brand can benefit from the capabilities available from the larger company like product research, distribution, capital, raw material bigger buying power, an improved consumer image, enhanced marketing, etc. Cilantro Taco Skillet Sauce and the seasonal Chipotle Pumpkin Salsa. Related: ConAgra Foods Acquires Chef Rick Bayless' Frontera Foods; Big Food Companies Must Change to Regain Market Share. the packaged foods businesses of Frontera Foods, Inc. and Red Fork LLC, potato products as well as other vegetable products to a variety of For more information, please visit us at www.conagrafoods.com. Redenbacher's®, Peter Pan®, Reddi-wip®, PAM®, Snack Pack®, Banquet®, Egg Frontera’s It’s a sound concept but it will not happen overnight. The most recent Big Food acquisition, ConAgra’s $108.9 million purchase of Frontera Foods, a company founded in 1996 by Chicago Chef Rick Bayless who is touted for helping consumers understand the nuances of regional Mexican food here in the U.S., and the brand's CEO, Manny Valdes, includes the addition of the Frontera, Red Fork and Salpica brands to the ConAgra portfolio. the business. Sep 27, 2016. I'm not sure ConAgra sees the Frontera purchase as a shift in strategy to higher value products or just another acquisition to show growth to the investment community. These businesses and enchiladas. “ConAgra gained an excellent retail brand for its commercial business that helped to move higher profit volume during the recession when its foodservice business was under pressure,” says Jack Acree, EVP Saffron Roads Foods, former director, sales, Alexia Foods, a Division of ConAgra Foods. digital edition. Other companies in ConAgra’s portfolio that fit its ‘value over volume’ philosophy include Alexia and Blake’s All Natural Pot Pies. Ari Goldsmith, Senior Director of Marketing, KeHE Distributors, LLC. In some cases buyouts can cause an identity crisis for the smaller brand—when the specialty trade (distributors and retailers) fear the practices of the new owner might hurt them they may search for alternative products. Since then, Rick has been exploring, cooking, and eating in Mexico for over 40 years. 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