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ConAgra Foods sets date of Lamb Weston spinoff | KTIC Radio

ConAgra Foods sets date of Lamb Weston spinoff

ConAgra Foods sets date of Lamb Weston spinoff
CourtesyAP. FILE - In this Thursday, Oct. 1, 2015, file photo, a statue of Chef Boyardee stands in front of the world headquarters of ConAgra Foods in Omaha, Neb. ConAgra Foods announced Wednesday, Nov. 18, 2015, it is spinning off its frozen potatoes business in an ongoing effort to intensify the focus on key name brand foods. The food company says it will split off the company’s leading brands such as Chef Boyardee and Healthy Choice into Conagra Brands Inc. It will spin off its frozen potato business under the Lamb Weston name. The split is expected to be complete by fall of 2016. (AP Photo/Nati Harnik, File)

OMAHA, Neb. – ConAgra Foods sets date of planned Lamb Weston spinoff and provides more details for investors.

ConAgra said in a statement Tuesday that its Lamb Weston frozen potato business will become a separate company next month.

The record date for the split will be Nov. 1, and Lamb Weston shares will be distributed to ConAgra shareholders on Nov. 9.

Lamb Weston will be based in Eagle, Idaho, but it also has a major office in Kennewick, Washington. It produces a variety of frozen potato and vegetable products.

After that is complete, the remaining packaged food company will be renamed Conagra Brands. The company moved its headquarters to Chicago from Omaha, Nebraska, earlier this year as part of a major reorganization that included selling off its unit that made store brand products.

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