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MarketScreener Homepage  >  Equities  >  Nyse  >  Conagra Brands, Inc.    CAG

CONAGRA BRANDS, INC.

(CAG)
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Conagra Brands : Improves Sustainability of Swiss Miss Packaging; New Tapered Cube Design Reduces Packaging Materials and Lowers Carbon Footprint 15 Percent

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09/21/2020 | 09:18am EDT

CHICAGO and EVANSVILLE, Indiana - Conagra Brands and Berry Global today announced a new package design for Conagra's Swiss Miss Hot Cocoa line, representing the first major hot cocoa brand to move from round canisters to a more eco-efficient recyclable cube. Created in partnership with Berry Global'sBlue Clover Studios, the new light blue easy-grip container is made of recyclable plastic with a wraparound in-mold label and a space-efficient tapered cube design that, based on an analysis conducted by Berry Global, reduces the carbon footprint associated with manufacturing and transporting the hot cocoa containers by 15 percent1. The new package design will initially be used for Conagra Brands' 38-ounce size Swiss Miss Milk Chocolate Hot Cocoa Mix.

The new Swiss Miss light blue easy-grip container is made of recyclable plastic with a wraparound in-mold label and a space-efficient tapered cube design. The new package design will initially be used for Conagra Brands' 38-ounce size Swiss Miss Milk Chocolate Hot Cocoa Mix.

'This redesign is an important step forward on our sustainable packaging journey,' said Katya Hantel, senior director of sustainable development at Conagra Brands. 'We will adopt the recyclable cube design over the next several years, supporting Conagra's target to make 100% of its plastic packaging renewable, recyclable or compostable by 2025.'

The new design reduces the package's carbon footprint by 98 metric tons each year due to less energy required to manufacture and transport the material. This is equivalent to avoiding the greenhouse gas emissions of driving a passenger vehicle 243,176 miles, which is further than the average distance from the Earth to the moon2. The new shape also allows Conagra to better utilize space in transit, saving more than 1,000 gallons of diesel fuel annually from fewer truck loads transporting plastic tubs.3

The new Swiss Miss package is the result of a cross-functional design process between Conagra Brands and Berry Global'sBlue Clover Studios, including manufacturing, packaging and business stakeholders.

'The magic happens when the right people come together early and often, which saves time in the long run when launching a new custom package,' said Scott Fisher, Blue Clover Studios design director.

'If your company is committed to sustainability, this package is a giant leap for many reasons,' added Dave Weaver, vice president, product management at Berry Global.

For more information on Conagra Brands sustainability visit https://www.conagrabrands.com/our-company/corporate-social-responsibility.

For more information on Berry Global visit https://www.berryglobal.com/sustainability.

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 Birds Eye, Marie Callender's, Banquet, Healthy Choice, Slim Jim, Reddi-wip, and Vlasic, as well as emerging brands, including Angie's BOOMCHICKAPOP, Duke's, Earth Balance, Gardein, and Frontera, offer choices for every occasion. For more information, visit www.conagrabrands.com.

About Berry Global Group, Inc.

Berry Global Group, Inc. (NYSE: BERY), headquartered in Evansville, Indiana, is committed to its mission of 'Always Advancing to Protect What's Important,' and proudly partners with its customers to provide them with value-added protective solutions that are increasingly light-weighted and easier to recycle or reuse. The Company is a leading global supplier of a broad range of innovative rigid, flexible, and nonwoven products used every day within consumer and industrial end markets. Berry, a Fortune 500 company, has approximately 47,000 employees and generated $12.6 billion of pro forma net sales in fiscal year 2019, from operations that span over 290 locations on six continents. For additional information, visit Berry's website at berryglobal.com.

For more information, please contact:

Tim Wrona

312-549-5400

tim.wrona@conagra.com

1 GHG emission reduction related to manufacturing of the primary container was calculated using GaBi Packaging Calculator, courtesy of Berry Global, accessed February 2020; GHG emission reduction related to better pack out and reduction in truckloads of shipments was calculated using Berry Global's proprietary Carbon Footprint Calculator

2 Equivalency results for GHG emissions determined using the EPA Greenhouse Gas Equivalencies Calculator

3 GHG emission reduction related to better pack out and reduction in truckloads of shipments was calculated using Berry Global's proprietary Carbon Footprint Calculator

SOURCE Conagra Brands, Inc.

(C) 2020 Electronic News Publishing, source ENP Newswire


Stocks mentioned in the article
ChangeLast1st jan.
BERRY GLOBAL GROUP, INC. 0.64% 49.96 Delayed Quote.4.53%
CONAGRA BRANDS, INC. 1.51% 37.65 Delayed Quote.8.32%
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Financials (USD)
Sales 2021 10 869 M - -
Net income 2021 1 159 M - -
Net Debt 2021 8 867 M - -
P/E ratio 2021 15,6x
Yield 2021 2,83%
Capitalization 18 119 M 18 119 M -
EV / Sales 2021 2,48x
EV / Sales 2022 2,43x
Nbr of Employees 16 500
Free-Float 83,3%
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 38,23 $
Last Close Price 37,09 $
Spread / Highest target 18,6%
Spread / Average Target 3,07%
Spread / Lowest Target -8,33%
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NameTitle
Sean M. Connolly President, Chief Executive Officer & Director
Richard H. Lenny Non-Executive Chairman
Thomas M. McGough Co-Chief Operating Officer & Executive VP
Darren C. Serrao Co-Chief Operating Officer & Executive VP
David S. Marberger Chief Financial Officer & Executive Vice President
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