This audio is generated automatically. Please let me know if you have any comments.
Conagra Brands is spending $220 million. expand chicken production plant In Fayetteville, Arkansas, the company is looking to strengthen its frozen foods business with a focus on protein.
The Fayetteville plant produces ready-to-eat meals for several brands, including Hungry-Man, Banquet, Healthy Choice, Gardein and Evol. The plant produces approximately 15 million cases of product annually.
Construction is expected to begin later this year, the company said Friday. It is expected that more than 100 jobs will be created over five years of investment.
“This significant investment in our Fayetteville facility will allow us to continue to grow our leading frozen foods business,” Craig Weiss, senior vice president of supply chain at Conagra, said in a statement.
This investment comes as more people rely on frozen meals for their protein. The frozen aisle of retail stores is a leading destination for high-protein foods, generating $12 billion in annual sales. According to the Conagra report.
According to the report, the volume of high-protein frozen foods increased 11% year-over-year, with chicken and turkey particularly seeing an increase.
Conagra’s expanded production capacity in Fayetteville supports the company’s ability to grow or innovate its protein portfolio. The new investment will reportedly “significantly increase chicken production capacity.”
“Conagra is committed to investing in innovation across our company, including our supply chain,” Craig Weiss, senior vice president of supply chain at Conagra, said in a statement.
For the upcoming fiscal year, Conagra expects organic net sales to decline 1% or increase 1% year-over-year. Last month, the company said that. Prioritizing increasing volumes At the same time, we make sure we have a mix of trendy products, including those containing protein.
