PINNACLE FOODS INC. (Exact Name of Registrant As Specified in Its Charter)
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Pinnacle Foods Inc. 2016 Annual Report
PINNACLE FOODS INC. FOODS PINNACLE 2016 ANNUAL REPORT ANNUAL 2016 399 Jefferson Road • Parsippany, NJ 07054 PINNACLE FOODS INC. 2016 ANNUAL REPORT pinnaclefoods.com 98199_Pinnacle_Cover.indd 1 4/5/17 3:36 PM 2016 HIGHLIGHTS CORPORATE & INVESTOR INFORMATION (in millions except per share) 2015 2016 Change Net Sales $2,656 $3,128 +17.8% Headquarters Dividends Pinnacle Foods Inc. Dividends are paid quarterly in January, Adjusted Gross Profit $750 $921 +22.8% 399 Jefferson Road April, July and October. % Net Sales 28.2% 29.4% +120 bps Parsippany, NJ 07054 (973) 541-8620 Adjusted EBIT $443 $539 +21.6% www.pinnaclefoods.com Independent Registered Public Accounting Firm % Net Sales 16.7% 17.2% +50 bps Deloitte & Touche LLP Adjusted Net Earnings $225 $254 +12.8% Stock Exchange Listing Parsippany, NJ New York Adjusted Diluted EPS $1.92 $2.15 +12.0% Ticker Symbol: PF Diluted Shares Outstanding 117.3 118.2 +0.8% Corporate News and Reports A wide range of information about the Free Cash Flow1 $265 $387 +$122 Investor Relations Company, including news releases, Maria Sceppaguercio financial reports, investor information, Senior Vice President, Investor Relations corporate governance and career email: [email protected] opportunities are available on our website: website: http://investors.pinnaclefoods.com www.pinnaclefoods.com 2016 was another good year (973) 434-2924 for Pinnacle, demonstrating the Printed materials such as the Annual Report enduring nature of our business on SEC Form 10-K and quarterly reports on model and value creation strategy. Virtual Annual Meeting of Stockholders SEC Form 10-Q may be requested via our The annual meeting of stockholders website or by calling (973) 434-2924. -
United States District Court Northern District of Illinois Eastern Division
Case: 1:19-cv-02550 Document #: 1 Filed: 04/15/19 Page 1 of 28 PageID #:1 UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF ILLINOIS EASTERN DIVISION HOUSTON MUNICIPAL EMPLOYEES Case No. ____ PENSION SYSTEM, Individually and On Behalf of All Others Similarly Situated, CLASS ACTION COMPLAINT FOR VIOLATION OF THE FEDERAL Plaintiff, SECURITIES LAWS v. JURY TRIAL DEMANDED CONAGRA BRANDS, INC., SEAN M. CONNOLLY, and DAVID S. MARBERGER Defendants. Plaintiff Houston Municipal Employees Pension System (“Plaintiff”) alleges upon personal knowledge as to allegations specifically pertaining to Plaintiff and, as to all other matters, upon the investigation of counsel, which included, without limitation: (a) review and analysis of public filings made by Conagra Brands, Inc. (“Conagra” or the “Company”) and other related parties and non-parties with the United States Securities and Exchange Commission (“SEC”); (b) review and analysis of press releases and other publications disseminated by certain of the Defendants and other related non-parties; (c) review of news articles, shareholder communications, conference calls and postings on Conagra’s website concerning the Company’s public statements; and (d) review of other publicly available information concerning Conagra and the Individual Defendants (as defined below). I. NATURE OF THE ACTION 1. This is a federal securities class action against Conagra and certain of its officers for violations of the federal securities laws. Plaintiff brings this action on behalf of all persons or entities that purchased or otherwise acquired Conagra common stock from June 27, 2018 through Case: 1:19-cv-02550 Document #: 1 Filed: 04/15/19 Page 2 of 28 PageID #:2 December 19, 2018, inclusive (the “Class Period”), including legacy Pinnacle Foods, Inc. -
Talbott Final Draft 4.Docx
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by KU ScholarWorks SENSES OF TASTE: DUNCAN HINES AND AMERICAN GASTRONOMY, 1931-1962 BY Copyright 2013 Damon L. Talbott Submitted to the graduate degree program in American Studies and the Graduate Faculty of the University of Kansas in partial fulfillment of the requirements for the degree of Doctor of Philosophy. ________________________________ Chairperson, Ann Schofield ________________________________ Ben Chappell ________________________________ Christopher E. Forth ________________________________ Eric C. Rath ________________________________ Iris Smith Fischer Date Defended: June 5, 2013 ii The Dissertation Committee for Damon L. Talbott certifies that this is the approved version of the following dissertation: SENSES OF TASTE: DUNCAN HINES AND AMERICAN GASTRONOMY, 1931-1962 ________________________________ Chairperson, Ann Schofield Date approved: June 5, 2013 iii ABSTRACT Duncan Hines was the first national restaurant critic in American history and a significant tastemaker in popular culture. This dissertation is an accounting of how senses of taste were formed in the middle of the twentieth century in the United States and how Duncan Hines aided this process. Conceiving of taste as a conjoining of physical sensations and cultural sense by mediators, I argue that Hines guided consumers and producers through the practice of making sense of momentous changes in society that influenced Americans’ eating habits as well as their awareness of American foodways. Hines gained and maintained cultural authority because his criticism networked developing mid-century trends including automobility, consumerism, middlebrow criticism, regionalism, suburbanization, the popularity of “eating out,” the professionalization of restaurants, the nationalization of media, the discourse of authenticity, and the continued evolution of technologies for the growing, processing, shipping, selling, and cooking of food. -
Conagra Brands Annual Report 2019
Conagra Brands Annual Report 2019 Conagra Brands, Inc., Annual Report 2019 Inc., Brands, Conagra 222 Merchandise Mart Plaza Suite 1300 Chicago, IL 60654 ©Conagra Brands, Inc. All rights reserved. 66397_AR2019_Cover.indd 1 7/23/19 11:31 AM DEARDEAR FELLOWFELLOW SHARSHAREHOEHOLDERSLDERS BOARDBOARD OFOF DIRECTORSDIRECTORS LEADERSHIPLEADERSHIP InIn eacheach ofof thethe lastlast fourfour years,years, mymy letterletter toto youyou hashas focusedfocused ofof netnet salessales growth.growth. OurOur fiscalfiscal 20192019 grossgross profitprofit increasedincreased AnilAnil AroraArora RichardRichard H.H. LennyLenny SeanSean ConnollyConnolly onon aa commoncommon theme:theme: thethe incredibleincredible transformationtransformation 12.8%,12.8%, againagain drivendriven byby thethe PinnaclePinnacle acquisition.acquisition. AdjustedAdjusted DirectorDirector andand FormerFormer ViceVice ChairmanChairman ofof FormerFormer ChairmanChairman andand ChiefChief ExecutiveExecutive ChiefChief ExecutiveExecutive OfficerOfficer underunder wayway herehere atat ConagraConagra Brands.Brands. ThisThis year’syear’s letterletter grossgross profitprofit increasedincreased 15.5%.15.5%.22 TheThe impactimpact ofof ourour financingfinancing Envestnet,Envestnet, Inc.;Inc.; FormerFormer ChiefChief ExecutiveExecutive OfficerOfficer ofof TheThe HersheyHershey CompanyCompany andand PresidentPresident willwill notnot breakbreak fromfrom thatthat tradition.tradition. DuringDuring fiscalfiscal 2019,2019, wewe forfor thethe PinnaclePinnacle acquisitionacquisition ledled toto aa 21.5%21.5% -
These Great Buys, Just
Prices Effective Friday 1/31/20 all these great buys, just Thru Thursday 2/6/20 Stonington, ME We’ve Got What You Need, When You Need It, Always At A Great Price! Deer Isle, ME We're your local Best Yet Market. Great Taste, Amazing Value Buy 1 or Buy 10... mix & match throughout the store! Fresh Grade A Chicken Tenders 99 1 Lb. 1893 USDA 100% All Natural 1893 USDA 100% Premium Whole Boneless Beef Center Cut Steakhouse Pork Loin Tips Custom Cut For Free 99 99 1 Lb. 6 lb. Banquet Frozen Chef Boyardee Pasta Fresh Delmonte Sweet Brown 'N Serve Assorted Varieties, 14-15 Oz. Can or Tropical Hass Large Sausage 7.25-7.5 Oz. Microwave Bowl Avocados Mag Melons Links or Patties Great For Guacamole! Sweeter than Cantaloupe! Assorted Varieties, 6.4 Oz. Best Yet Bathroom Tissue ¢ $ Excludes Beef 4 Regular Rolls Ea. For Best Yet Facial Tissues 79 2 3 110 Count Flat Box Celeste Frozen Pizza For One Assorted Varieties, 4.4-6 Oz. Pkg. Swanson Pot Pie Pepsi, Diet Pepsi Frozen, Chicken or Turkey 7 Oz. Pkg. Rice-A-Roni or Duncan Hines Birds Eye Frozen Doritos or Mtn Dew Pasta-Roni Brownie Mix Vegetables Tortilla Chips Assorted Varieties Dannon Greek Yogurt Assorted Varieties Assorted Varieties Assorted Varieties Assorted Varieties 6 Pack, 16.9 Oz. Bottles 4.7-7.2 Oz. Box or 1.97-2.48 Oz. Cup 18-18.3 Oz. Box 10-16 Oz. Pkg. 9.25-11.5 Oz. Bag Plus Tax & Deposit Assorted Varieties, 5.3 Oz. -
Escape to the Islands with the Unique Taste of Hawaiian™ Kettle Style Potato Chips and Snack Rings
FOR IMMEDIATE RELEASE Media Contact: Elena Magg/Lee Makofsky Bender Hammerling Group 973.744.0707 [email protected]/ [email protected] Escape To The Islands With The Unique Taste of Hawaiian™ Kettle Style Potato Chips and Snack Rings Available for National Distribution This Spring MOUNTAIN LAKES, NJ (SprinG 2011)—The makers of Hawaiian™ Kettle Style Potato Chips announce that their superior line of potato chips and snack rings will be available for national distribution beginning this spring. The line offers four exotic, unique and delicious flavors including Original, Luau BBQ, Sweet Maui Onion and Wasabi. Hawaiian™ Kettle Style Potato Chips, which have a loyal following on the West Coast, bring something unique to the supermarket. With the Hawaiian tagline, “Lolo ‘Ono,” which translates to “Crazy Delicious,” Hawaiian™ Kettle Style Potato Chips use the traditional Polynesian recipe that originated the Hawaiian™ Kettle Style Potato Chip. Hawaiian™ Kettle Style Potato Chips and Snack Rings are recognized not only for superior taste and quality, but also for the artistic, colorful, tropical artwork that appears on all packaging. “We are delighted to bring a taste of the islands to the rest of the country to expand people’s taste horizons,” says Terri Barberi, Brand Development Manager in the Specialty Foods Division of Pinnacle Foods Corp., marketers of the Hawaiian™ brand. “The distinctive flavor profiles, crunchy texture and unique packaging all combine to offer consumers a product that is above comparison, and we know they’ll love it.” The full product line includes: Hawaiian™ Kettle Style Potato Chips OriGinal To capture the freshness and authenticity of the islands, this chip is slow cooked in the old Hawaiian tradition in a select blend of oils for a crispy, crunchy potato chip, finished with the just perfect pinch of salt to enhance the natural potato flavor. -
Labelsync Case Study: Conagra Paves Way for Brands on Smartlabel
LABELSYNC™ CASE STUDY Conagra® Paves Way for Brands on SmartLabel™ LABELSYNC CONAGRA CASE STUDY 1 BACKGROUND Conagra Brands, headquartered in Chicago, combines a rich heritage of making great food with a sharpened focus and entrepreneurial spirit. Its iconic brands include Birds Eye®, Duncan Hines®, Healthy Choice®, Marie Callender’s®, Reddi-wip®, and Slim Jim®, as well as emerging brands, such as Angie’s® BOOMCHICKAPOP®, Duke’s®, Earth Balance®, Gardein™, and Frontera®. The company is transforming the way it operates to fulfill what consumers and customers want in a smart, simple way. With 50 locations, approximately 17,000 employees, and $11 billion in annual revenue, Conagra is modernizing its iconic food brands, leveraging fresh opportunities and adapting to a changing landscape — all with a culture that’s ready to capture growth and drive shareholder value. CHALLENGES In the spring of 2016, Conagra experienced greater demand for increased product attribution. This demand was coming from three different needs for the company. Responding to the Consumer’s Demand For “Many of today’s Transparency consumers are looking for more transparency Over the past five years, consumers’ expectations have increased about when it comes to their food. We are committed what information is available to them. They are looking for more insights to providing access about the products they use and consume, far beyond the basic nutrition to the information facts panel and standard ingredient list. Now shoppers are looking for consumers want and need to make informed diet compliance, allergen information, sustainability efforts — just to decisions about what name a few. Conagra needed to augment their logistic and supply they eat.” chain-oriented data to share more product information in a Mark Evans, VP Product consumer-friendly way. -
FY20 Q4 Earnings Presentation June 30, 2020 Today’S Presenters
FY20 Q4 Earnings Presentation June 30, 2020 Today’s Presenters Brian Kearney Investor Relations Sean Connolly President and Chief Executive Officer Dave Marberger Executive Vice President and Chief Financial Officer Legal Disclosure Note on Forward-looking Statements This document contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements are based on management's current expectations and are subject to uncertainty and changes in circumstances. Readers of this document should understand that these statements are not guarantees of performance or results. Many factors could affect our actual financial results and cause them to vary materially from the expectations contained in the forward-looking statements, including those set forth in this document. These risks, uncertainties, and factors include, among other things: the risk that the cost savings and any other synergies from the acquisition of Pinnacle Foods Inc. (the "Pinnacle acquisition") may not be fully realized or may take longer to realize than expected; the risk that the Pinnacle acquisition may not be accretive within the expected timeframe or to the extent anticipated; the risks that the Pinnacle acquisition and related integration will create disruption to the Company and its management and impede the achievement of business plans; the risk that the Pinnacle acquisition will negatively impact the ability to retain and hire key personnel and maintain relationships with customers, suppliers, and other third parties; -
2014 Annual Report
2014 ANNUAL REPORT 2014 HIGHLIGHTS (in millions except per share) 2013 2014 Change Net Sales $2,464 $2,591 +5.2% North America Retail (1) $2,102 $2,247 +6.9% Gross Profit $664 $711 +7.1% % Net Sales 27.0% 27.5% +50 bps Operating Income (EBIT) $374 $423 +13.2% % Net Sales 15.2% 16.3% +110 bps Net Earnings $177 $203 +14.7% Diluted EPS $1.52 $1.74 +14.5% Diluted Shares Outstanding 116.6 116.9 Unleveraged Free Cash Flow $325 $452 +39.1% In our second year as a public company, we again delivered very strong results, demonstrating the power of both our business model and strategy, as well as that of our experienced team. Below are a few of the more significant highlights of the year. • Grew North America Retail net sales 7% • Delivered unleveraged free cash flow of versus 2013 $452 million, excluding a $150 million benefit • Outpaced the growth of our categories, driving from the terminated merger agreement with composite market share growth for the fourth The Hillshire Brands Company time in the last five years • Increased our dividend rate by 12% during • Expanded gross margin by 50 basis points, the third quarter and repurchased one million through strong productivity and improved shares of our common stock product mix • Made two strategic acquisitions: • Maintained SG&A overhead below 9% of net - Garden Protein International, the rapidly sales, among the lowest in our industry growing innovator in the plant-based protein • Meaningfully reduced debt and ongoing segment with the gardein™ brand annual interest expense - The largest Duncan Hines co-manufacturing • Delivered a 14.5% increase in adjusted operation, enhancing innovation capabilities diluted EPS and enabling productivity Note: Financial results, excluding unleveraged free cash flow, are presented on a pro forma basis, reflecting Adjusted Statement of Operations amounts, assuming the IPO and the 2013 Refinancing occurred on the first day of Fiscal 2013. -
December 20Th, 2018 Notes-No Quorum
NOTES CENTRALIA INDUSTRIAL DEVELOPMENT COMMISSION MEETING Centralia House Thursday, December 20, 2018 12:00 p.m. Members Present: Dick Cary, Ken Coughlin, Travis Etheridge, Bob Feig, and Ty Orr Members Absent: Dave Agee, Bo Baer, Jack Mann, Bill Sprehe, Lloyd Vestal, Tom Ashby, and Dan Ramey Also Present: Rose Aldag-McVey - Economic Development Director, Steven Stilt – Reporter, Centralia Morning Sentinel, Bruce Kropp - WJBD Radio, and Kevin Elko – Human Resources Manager, Conagra Brands Public Comment: None Approval of Minutes: None due to lack of a quorum Ongoing Business: The Business Appreciation Reception was a success with over 100 area business owners or leaders in attendance. Aldag-McVey thanked the Commission for their efforts in encouraging business activity in the area. New Business: Aldag-McVey introduced Kevin Elko, Human Resource Manager for Conagra Brands, formerly Pinnacle Foods. Elko is from Benton, Illinois and began working as an hourly worker at Continental Tire in Mt. Vernon then moved to Chicago, Mexico, and China as his career progressed with other companies. He has been with Conagra for about a hear and one-half. They package cake mixes, brownie mixes and canned frosting for Duncan Hines; they are the only Duncan Hines plant in the world. With 240-250 employees, they shipped over 16 million cases (twelve mixes per case) in 2018. Pinnacle’s headquarters in New Jersey will close soon as Conagra’s headquarters are in Omaha, Nebraska and Chicago, Illinois. In 2018, the Centralia plant was upgraded with $5 million capital. Elko has been charged with upgrading the talent, they need maintenance techs and skilled labor workers. -
Palm Oil Card 2020
Make a dierence! How can I help? How can I help? Read labels when you shop. Choose products made by • Demand clear labeling for products The choices that you make can Roundtable on Sustainable Palm Oil that contain sustainable palm oil. aect orangutans. (RSPO) member companies. They have made a commitment to • Urge companies that are not RSPO move toward using sustainable members to join and make a What is palm oil? palm oil in their products. commitment to sustainable palm oil. Palm oil (or palmitate) is a very RSPO Member Companies* common ingredient in everyday food, household, and beauty Avon L'Oreal products, including baked goods, Burger King Mars, Incorporated Costco Wholesale McDonald’s convenience and snack foods, Dunkin’ Nestlé candy, non-dairy products, Estée Lauder PepsiCo cosmetics, and soaps. General Mills Pizza Hut Girl Scouts of the USA Seventh Generation Hershey‘s Shearer’s Foods J.M. Smucker Target Non-sustainable palm oil Johnson & Johnson Tyson Foods Kellogg Walmart production destroys Kraft Heinz Co. Wendy’s rain forests and is devastating to January 2020 orangutans and other wildlife. *Partial list RSPO Member Products (Food) Doublemint Gum Hellmann's Lifesavers Pam Skippy Top Ramen Dove Chocolates Hidden Valley Lindt Candy Parkay SlimFast Tostitos Dreyer’s Ice Cream Honey Maid Log Cabin Syrup Pepperidge Farm SlimJim Trident Gum A1 Sauce Bomb Pops Duncan Hines Hot/Lean Pockets Magnum Ice Cream Peter Pan Sour Patch Kids Triscuit Act II Boost Earth Balance Hungry Man Manwich P.F. Chang’s Soy DREAM Trophy Nut Activia -
Hillshire Brands to Buy Pinnacle Foods for $4.3B
Deal of the Week: Hillshire Brands to Buy Pinnacle Foods for $4.3B Announcement Date May 12, 2014 Acquirer The Hillshire Brands Company (NYSE: HSH) Acquirer Description Manufactures and markets meat‐centric food solutions worldwide. Sells its products under several brand names including Jimmy Dean, Ball Park, Hillshire Farm, State Fair, Sara Lee, and Chef Pierre Formerly known as Sara Lee Corporation, the company changed its name to The Hillshire Brands Company in June 2012 The Hillshire Brands Company was founded in 1939 and is headquartered in Chicago, Illinois Acquirer Financial Mkt Cap: $4.5 billion LTM EBITDA: $541.0 million Statistics EV: $5.1 billion LTM EV / Revenue: 1.3x LTM Revenue: $4.0 billion LTM EV / EBITDA: 9.4x Target Company Pinnacle Foods (NYSE: PF) Target Description Manufactures, markets, and distributes branded convenience food products in North America. Operates through three segments: Birds Eye Frozen, Duncan Hines Grocery and Specialty Foods Based in Parsippany, New Jersey Price / Consideration Price: $4.3 billion Consideration: Cash & Stock Acquirer Advisors Centerview Partners and Goldman Sachs Target Advisors Bank of America Merrill Lynch and Blackstone Advisory Partners Rationale The deal will combine Pinnacle, which owns brands including Duncan Hines and Log Cabin syrup, with Hillshire, which has brands including Jimmy Dean and Sara Lee Together, the companies will have annual revenue of about $6.6 billion The combination with Hillshire is expected to produce $140 million in annual savings from improving the supply chain and consolidating expenses Deal Points Pinnacle stockholders will receive $18 in cash for each share held, along with 0.50 of a Hillshire share for each Pinnacle share.