Conagra Brands to buy Thanasi Foods
March 17, 2017
by Keith Nunes
Thanasi Foods markets such brands as Duke's meat snack and Big Seeds.
CHICAGO — Conagra Brands has entered into an agreement to acquire Thanasi Foods LLC, Boulder, Colorado, the manufacturer and marketer of Duke’s branded meat snacks and Bigs Seeds. Terms of the agreement were not disclosed.
|Sean Connolly, president and CEO of Conagra Brands
“This is another exciting step in our ongoing efforts to reshape our portfolio to be more premium and modern,” said Sean Connolly, president and CEO of Conagra Brands. “These on-trend brands extend our meat snacks and seeds businesses into faster-growing, more premium segments. We are looking forward to working with the Thanasi team to grow the brands further and create value for our shareholders.”
The Duke’s and Bigs brands will be added to Conagra’s product portfolio, which includes Slim Jim meat snacks and David Seeds. Thanasi will continue to operate from its offices in Boulder once the acquisition is complete, according to Conagra.
|Justin "Duke" Havlick, CEO of Thanasi Foods
“What started 13 years ago as a simple passion for fire roasting seeds and slow smoking meats, has grown into two terrific brands that are recognized in households across the US,” said Justin “Duke” Havlick, CEO of Thanasi. “This is an incredibly exciting time for our brands and our team, and we are looking forward to working with the Conagra Brands team on the next chapter in our journey to take Duke’s and Bigs to another level.”
The transaction is expected to close this summer.