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Boom chicka popcorn9/9/2023 ![]() ![]() By 1976, now chief executive officer Harper, sold 25 assets and reduced the company debt by $35 million. Harper began selling what he deemed to be unnecessary buildings and plots of land owned by the company, as well as entire divisions that did not align with ConAgra's new direction as a company that primarily dealt with basic food items. Michael Harper to be its chief operating officer in the fall of 1974 and tasked him with stabilizing the company. Losses suffered in 1974 from bad investments and commodities speculation had the company facing bankruptcy. It went public and began trading on the NYSE two years later. The name is a combination of the Latin words con ("with") and agrī ("soil" or "earth"). ![]() Conagra Brands would reacquire the Duncan Hines brand in 2018 through its acquisition of Pinnacle Foods, which had bought the brand from Procter & Gamble in 1997.ġ971–1999: Rebranding to ConAgra In 1957, NCM built its first mill outside the continental United States, constructing a plant in Puerto Rico. It sold its Duncan Hines assets to Procter & Gamble in 1956. 1950-1970: Expansion and decline The previous ConAgra Foods logo, which was used until June 2009.Īfter researching new uses for its flour, NCM funded the establishment of the Duncan Hines brand of cake mixes in 1951 as a way to market more flour. It was NCM's first plant outside of Nebraska. In 1941, the company opened a mill in Decatur, Alabama. That year, NCM posted a profit of $175,000, its first profit since its founding. The company moved its headquarters to Omaha, Nebraska, in 1922 following the purchase of Updike Mill. The company was a conglomerate of four grain milling companies headquartered in Grand Island, Nebraska. History 1919-1949: Founding and early history Ĭonagra was founded in September 1919 as Nebraska Consolidated Mills (NCM) by Alva Kinney. Based on its 2021 revenue, the company ranked 331st on the 2022 Fortune 500. Conagra makes and sells products under various brand names that are available in supermarkets, restaurants, and food service establishments. (formerly ConAgra Foods) is an American consumer packaged goods holding company headquartered in Chicago, Illinois. ![]()
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