Conagra Brands to Acquire Sandwich Bros. of Wisconsin
Chicago, December, 2017 – Conagra Brands, Inc. (NYSE: CAG) announced that it has entered into a definitive agreement to acquire the Sandwich Bros. of Wisconsin business, which produces frozen breakfast and entrée flatbread sandwiches. The transaction is expected to close in early 2018, subject to customary closing conditions, including the receipt of regulatory approvals.
“Adding the Sandwich Bros. business to our portfolio is another step in Conagra Brands’ ongoing work to accelerate growth,” said Sean Connolly, president and chief executive officer of Conagra Brands. “This acquisition will bring Conagra unique capabilities and expertise within the frozen handheld category, which we look forward to leveraging for further growth and extension into additional Conagra brands.”
Sandwich Bros. flatbread pocket sandwiches offer consumers on-the-go convenience and are filled with proteins such as 100% Angus beef, chicken raised without antibiotics, all natural sausage and real Wisconsin cheese. The family-owned business has seen rapid growth with approximately $60 million in net sales for the twelve months ending November 2017.
“We are extremely proud of what our team has accomplished in a few short years, and look forward to helping Conagra accelerate the growth of Sandwich Bros. products,” said Salem Kashou, President of the Sandwich Bros. business and second-generation family member.
“We are very pleased with Conagra’s shared enthusiasm of Sandwich Bros. and know they have the resources and expertise to continue our legacy. Our incredible growth over the past five years is attributed to the contributions from our loyal employees, business partners and consumers. For that, my brother John and I express our sincerest gratitude,” added George Kashou, founder and co-owner of the business.
McGrath North served as legal counsel to Conagra Brands. Quarles & Brady served as legal counsel and Chapman Partners, LLC served as financial advisor to Sandwich Bros.
About Conagra Brands
Conagra Brands, Inc. (NYSE: CAG), headquartered in Chicago, is one of North America’s leading branded food companies. Guided by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great food with a sharpened focus on innovation. The company’s portfolio is evolving to satisfy people’s changing food preferences. Conagra’s iconic brands, such as Marie Callender’s®, Reddi-wip®, Hunt’s®, Healthy Choice®, Slim Jim® and Orville Redenbacher’s®, as well as emerging brands, including Alexia®, Blake’s®, Frontera®, Duke’s® and Angie’s® BOOMCHICKAPOP®, offer choices for every occasion.
About Sandwich Bros. of Wisconsin Business
Sandwich Bros. of Wisconsin brand is produced by a family-owned and operated food company founded in Milwaukee, Wisconsin in 1979 by John and George Kashou. In 2012, the brothers introduced a full line of frozen, handheld breakfast and snack sandwiches under the brand name Sandwich Bros. of Wisconsin®. The sandwiches are sold Nationwide to grocery stores, club, convenience and mass merchandisers, in addition to, Foodservice, Military and Private Label customers. Sandwich Bros.’ mission is to be a leading manufacturer of hand-crafted sandwiches and specialty breads with continuous improvement, innovation and commitments to provide safe, quality food to their customers and consumers.
Source: Conagra Brands, Inc.