ConAgra Foods Inc. (CAG), one of the world’s largest food processors with nearly $18 billion in annual revenue, appears ripe for a split-up. Industry watchers say the company’s unwieldy portfolio of brands and businesses no longer belongs under a single corporate umbrella. On Dec. 18, the Omaha, Neb.-based food conglomerate said that consumer food sales decreased 2% for fiscal second quarter, with volume down 1%, while its private label unit would experience a significant operating loss of about $200 million, with sales at the unit falling 5% to $1.1 billion. In addition, ConAgra is hurt by what it doesn’t have: Unlike other food companies that have been adding natural and organic food brands to their shopping carts, ConAgra has largely been missing in action. It is now waking up to a world in which its business is completely unaligned with food trends.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
