ConAgra transformation continues, spins off frozen unit
NEW YORK (AP) — ConAgra Foods is spinning off its frozen potatoes business in an ongoing effort to intensify its focus key name brand foods.
The company said Wednesday that it's splitting off leading brands such as Chef Boyardee and Healthy Choice into Conagra Brands Inc. It will spin off its frozen potato business under the Lamb Weston name. The split is expected to be complete by fall of 2016.
There have been some big changes at ConAgra this year. The company announced the sale of most of its private-label operations to TreeHouse Foods Inc. for about $2.7 billion and 1,500 job cuts jobs, about 30 percent of its office-based workforce, as it moves its headquarters from Omaha, Nebraska, to Chicago.