USA – Conagra Brands has broadened its meat snacks range through the acquisition of Colorado-based Sweetwood Smoke & Co., a company established in 2010 by former athlete Ryan Wood.
Sweetwood Smoke is known for its Fatty brand of meat sticks, which are smoked using hickory wood and come in various flavors, including pepperoni, teriyaki, and buffalo chicken.
The Fatty brand offers 2-ounce and 3-ounce meat sticks made from grass-fed beef and antibiotic-free pork.
These products are also free from gluten, sugar, nitrates, and MSG, catering to consumers seeking healthier snack options.
The sticks are available at various retailers across the United States, as well as online through Amazon.
Chicago-headquartered Conagra, a company specializing in snacks, frozen foods, and alternative proteins, already owns Duke’s smoked meats, which it acquired in 2017.
The addition of Sweetwood Smoke’s Fatty brand to Conagra’s portfolio aligns with the company’s strategy to expand its offerings in the better-for-you snacks category.
Sean Connolly, Conagra’s president and CEO, highlighted that the acquisition of the Fatty Smoked Meat Sticks is part of the company’s ongoing efforts to accelerate growth by diversifying its product range.
Ryan Wood, CEO of Sweetwood Smoke, will continue with the company under Conagra’s ownership. Wood expressed optimism about the partnership.
Conagra, listed on the New York Stock Exchange, confirmed that its financial outlook for the year remains unchanged following the Sweetwood Smoke acquisition.
The company’s fiscal 2025 forecast, presented in July, predicts organic sales to remain flat or decline by up to 1.5%.
This follows a 2.1% decrease in organic sales for the year ending May 26.
Additionally, Conagra anticipates its adjusted operating margin for the coming year to fall slightly within the range of 15.6% to 15.8%, compared to the 16% margin reported for fiscal 2024.
Liked this article? Sign up to receive our email newsletters with the latest news updates and insights from Africa and the World HERE
