The company is focusing on accessing opportunities in "growth pockets" throughout food and beverage.
Conagra Brands licensing efforts continue as the company is extending its PF Chang’s brand into the sauces category. The line features a range of varieties, from soy to sauces that are used in the back of the house in the restaurant to make kungpao chicken or Mongolian beef.
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Slim Jim Black is a brand extension designed to bring older consumers back to the business.
“Slim Jim is an amazing brand and does a great job with teenage boys,” Serrao said. “However, eventually those boys grow up and become men and when they do they start to reevaluate their eating preferences. And while they remain in the meat snack category, they start to choose brands with attributes that are more consistent with their food choices as adults.”
Slim Jim Black are smaller meat sticks made with “high-quality” meats.
“ … It’s a great eating experience that moves Slim Jim up in a way that's appropriate so we can hang onto those core users, get them back and hang on to them longer,” Mr. Serrao said.
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Under Bertolli, the company plans to launch pasta sides that will push the brand into the “superpremium” category, Serrao said.
“Bertolli today is a complete two-person meal,” he said. “This meal is highly flexible. You can eat it as is. It comes with the pasta and sauce, both of which are high quality, made in Italy. They are completely clean ingredients and non-GMO.
“You would be very happy with that, but add a protein to that, whether that’s an animal protein such as chicken or plant-based protein such as legumes or anything of your choice, and you get a complete meal for more than one person.”
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Conagra Brands plans to relaunch its Wicked Kitchen line of products. The line features hand pies and macaroni and cheese in such flavors as kickin’ chicken, ham and gruyere and spinach artichoke.
“ … What you experience in this food is not what you would expect out of mac and cheese out of the center of store, but the kind of quality that you bring through frozen and an eating experience that is unlike any other experience that’s out there,” Mr. Serrao said. “And while we are starting with hand pies and mac and cheese, you can see opportunities to extend this much more broadly.”
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