US food group Conagra Brands is to close the Boulder, Colorado office of Pinnacle Foods, which it bought last year, with 100 jobs affected.
Local media reports have suggested that the jobs are to be lost but a statement sent to just-food by Conagra, while confirming the closure will happen by the end of this year, said “many employees will be offered jobs in other Conagra locations”.
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The Boulder employees work in finance, human resources, marketing and other corporate positions. Pinnacle inherited the office when it bought free-from food business Boulder Brands for US$975m in a deal announced in late 2015.
Chicago-based Conagra acquired New Jersey-based frozen foods business Pinnacle in a $10.9bn deal announced last June and Conagra – behind brands such as Duncan Hines and Hunt’s ketchup – said in its statement that the closure follows “a thorough evaluation process” of the Boulder Brands business.
It added: “Conagra recently completed a data-based analysis based on capabilities and determined it was best to integrate and build the Boulder-based brands into the Conagra way of innovation, development, brand building and business process.
“This requires everyone being in the same location so teams can work fast and efficiently, share ideas for innovation in real-time and build our brands with each other.”
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By GlobalDataIn August, Pinnacle announced it was closing a plant in Canada after a contract loss.
In December, Conagra Brands pinpointed Pinnacle’s failings as a drag on its performance.
