• PROMO Magazine, Wednesday, August 2, 2006 1:30 PM

Food marketer ConAgra is shedding some of its non-core brands in the second phase of a restructuring that includes selling Butterball, Eckrich, Armour, LunchMakers, Margherita and Longmont to Smithfield Foods for $575 million. The company will retain Hebrew National, Brown 'N Serve sausage, Slim Jim and Pemmican meat snacks brands, which ConAgra says have strong equity and growth potential, and fit within its brand portfolio. Earlier this year, the marketer sold its Cooks ham brand to Smithfield, and its Louis Kemp seafood business to Trident Seafoods Corp. ConAgra's domestic and imported cheese business is still on the block. Company CEO President-CEO Gary Rodkin called the refrigerated meats sale "a significant milestone ... part of an ongoing process to simplify our operations and to focus our efforts on areas of our portfolio where we have the greatest opportunities."

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