Conagra to Conversations to Sell National Hebrew to JBS

Conagra, in April 2019, said that Hebrew National’s sales during the previous year were $ 170 million and Egg Beaters ’sales were $ 78 million. But the popularity and cultural memory of the hot kosher dog transcends the size of the brand, thanks in part to its long slogan: “We respond to a higher authority.”

Conagra, which has a market value of about $ 17.6 billion, has been reorganizing its portfolio to boost its frozen food and snack brands such as Healthy Choice and Slim Jim.

For JBS, the largest beef processor in the United States, buying the business would expand its reach into grocery store meat boxes at a time when consumers have shifted their food purchase preferences to supermarkets and outside the restaurants to sit.

JBS has a market value of more than $ 12 billion and earns most of its revenue in the United States, where its meat and pork processing company Swift and Pilgrim’s Pride are among its businesses.,

the second largest chicken supplier in the nation.

If JBS reached the deal, it would expand its consumer brand portfolio, which the company intends to build. Trademark meat products tend to make higher profits than bulk meat sold in restaurants and supermarkets on wrapped trays. In February 2020, JBS announced a $ 238 million deal to buy Empire Packing Co., the parent retailer of Ledbetter-branded meat products.

Hebrew National’s kosher francs were first sold in New York City in 1905 and Conagra acquired the brand’s parent company in 1993. Over the decades, whole-calf hot dogs have been become a staple in baseball stadiums and backyard cooks.

In early 2019, the brand’s sales were slightly behind the global hot dog category and Conagra executives said they planned to upgrade their marketing and incorporate additional beef cuts like the branch.

Sales of pantry commodities increased about a year ago when home orders began in the early days of the pandemic, which shook the classics that had fallen into disgrace to consumers. Hebrew National’s retail sales rose 39% during the quarter ended May 31, Conagra reported.

But demand for some packaged foods has waned as people return to restaurants and offices, prompting companies to turn to doing business to keep up with changing consumer tastes.

Kraft Heinz Co.

in February he agreed to sell his Nuts Planters business to spam manufacturer Hormel Foods Corp.

for $ 3.355 billion. Like JBS, Hormel has focused its portfolio on protein-heavy food brands.

Kraft’s rival, Mondelez International Inc.

this year it has signed two small deals: it agreed to buy Gourmet Food Holdings, a popular cracker brand in Australia this week, and the rest of Paleo chocolate makers, Hu Master Holdings, in January.

—Annie Gasparro contributed to this article.

Write to Jacob Bunge to [email protected] and Cara Lombardo to [email protected]