About Conagra Brands

Conagra Brands, Inc. (Conagra Brands) operates as a branded, pure-play consumer packaged goods food company in North America. The company's iconic brands are Birds Eye, Duncan Hines, Healthy Choice, Marie Callender's, Reddi-wip, and Slim Jim, as well as emerging brands, including Angie's BOOMCHICKAPOP, Duke's, Earth Balance, Gardein, and Frontera. The company focuses on adding value for its customers who operate in the retail food and foodservice channels. Segments Grocery & Snacks The Grocery & Snacks reporting segment principally includes branded, shelf-stable food products sold in various retail channels in the United States. Refrigerated & Frozen The Refrigerated & Frozen reporting segment principally includes branded, temperature-controlled food products sold in various retail channels in the United States. International The International reporting segment principally includes branded food products, in various temperature states, sold in various retail and foodservice channels outside of the United States. Foodservice The Foodservice reporting segment includes branded and customized food products, including meals, entrees, sauces, and a variety of custom-manufactured culinary products packaged for sale to restaurants and other foodservice establishments primarily in the United States. Unconsolidated Equity Investments The company has two unconsolidated equity investments. The company’s most significant equity method investment is its joint venture with respect to Ardent Mills, a milling business. Conagra Brands is a branded consumer packaged goods food company that operates in many sectors of the food industry, with a significant focus on the sale of branded, private branded, and value-added consumer food, as well as foodservice items and ingredients. Seasonality Sales of frozen foods tend to be marginally higher during the winter months, seafood sales are highest during Lent, in advance of the Easter holiday, and production of certain of the company’s products occurs seasonally, during or immediately following the purchase of agricultural crops. Trademarks Some of the company’s food items are sold under brands that have been licensed from others, including under the P.F. Chang’s, Bertolli, and Libby’s trademarks. The company also owns certain intellectual property rights that are licensed to third parties, such as the Alexia trademark. Regulation The company’s operations are subject to various laws and regulations administered by federal, state, local, and foreign government agencies, including, but not limited to, the United States Department of Agriculture, the Federal Food and Drug Administration, the Federal Trade Commission, the Occupational Safety and Health Administration, the Environmental Protection Agency, and the Department of Labor. In particular, the processing, packaging, transportation, storage, distribution, advertising, labeling, quality, and safety of food products, the health and safety of the company’s employees, and the protection of the environment are each subject to governmental regulation. Additionally, the company is subject to data privacy and security regulations, tax and securities regulations, accounting and reporting standards, and other financial laws and regulations. Customers The company’s largest customer, Walmart, Inc. and its affiliates, accounted for approximately 28% of consolidated net sales for the year ended May 28, 2023. History The company was founded in 1861. It was incorporated as a Nebraska corporation in 1919 and was reincorporated as a Delaware corporation in 1975. The company was formerly known as ConAgra Foods, Inc. and changed its name to Conagra Brands, Inc. in 2016.