Incremental Growth Platform Delivers $125M In Revenue For ConAgra Brands

Who Are They?

ConAgra Brands is a top American consumer packaged goods company, formerly ConAgra Foods. Known for brands like Hunt’s, Orville Redenbacher, and Healthy Choice. ConAgra grew through acquisitions to become one of the world’s largest food companies, with peak annual sales over $25 billion. Despite challenges, ConAgra remains a significant player in the food industry, with a diverse portfolio of well-established brands and a focus on innovation.

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Where Were They Before Working With Us?

ConAgra, with around 100 consumer brands, had 27, generating over $100 million in annual retail sales each. Their primary focus was on building profitable brands through innovation and delivering value-added products. 

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What Problems Were They Facing?

ConAgra had been grappling with ongoing revenue declines, which impacted its financial performance. To address this challenge and stimulate growth, the company actively pursued the development of incremental growth platforms. These initiatives aimed to generate at least $200 million in additional revenue. By focusing on innovation and strategic investment in these growth avenues, ConAgra sought to reverse its downward trend and strengthen its market position.

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What Did We Do To Solve It?

To address these revenue declines, we launched the first incremental growth platform: a meal solutions initiative. This effort led to the introduction of Homestyle Bakes, a meal-in-a-box new product that achieved remarkable success. Within four test markets, it generated $125 million in revenue and drove 10% growth in the category. Additionally, it was recognized as the best-selling new product in its segment. Given these significant results, we received approval to expedite the national rollout ahead of schedule.