Conagra Brands has announced the acquisition of Sweetwood Smoke & Co., the maker of Fatty Smoked Meat Sticks, for an undisclosed sum.
The company has also confirmed that its guidance for the full year 2025, issued on 11 July, will not be affected by this transaction.
"The acquisition of Fatty Smoked Meat Sticks is another step in reshaping our portfolio for faster growth," said Sean Connolly, president and chief executive officer of Conagra Brands.
"Adding a premium brand such as Fatty to our growing, better-for-you snack portfolio is consistent with our strategic focus on the snacking and frozen categories," he added.
Healthy Snacks
Fatty Smoked Meat Sticks is a range of protein-packed, on-the-go snacks in the 'better-for-you' category, made of quality pork and beef smoked with real hickory wood.
Ryan Wood, founder and chief executive officer of Sweetwood Smoke & Co., stated, "As a lifelong athlete and adventure enthusiast, I have always valued convenient, high-protein snacks, made with quality ingredients, which is why we created Fatty."
"I'm looking forward to working with Conagra to make Fatty products available to more people with big appetites for meat sticks."
In July of this year, the company forecast annual revenue and profit below estimates after missing quarterly revenue expectations, as high living costs prompted cash-strapped shoppers to turn to cheaper alternatives for their at-home meals.
Conagra's total volumes decreased 1.8% in the fourth quarter after falling 7.7% last year.
It reported net sales of $2.91 billion (€2.68 billion) for the quarter ending 26 May, below analysts' average estimates of $2.93 billion (€2.70 billion), according to LSEG data.
