Shares of ConAgra Foods Inc (NYSE:CAG) ended Thursday session in red amid volatile trading. The shares closed down -0.30 points or -0.64% at $46.92 with 1.94 million shares getting traded. Post opening the session at $46.99, the shares hit an intraday low of $46.49 and an intraday high of $47.05 and the price vacillated in this range throughout the day. The company has a market cap of $20.65 billion and the numbers of outstanding shares have been calculated to be 437.77 million shares.
ConAgra Foods Inc (CAG) announced that it has acquired the packaged foods businesses of Frontera Foods, Inc. and Red Fork LLC, including the Frontera, Red Fork and Salpica brands. These businesses make authentic, gourmet Mexican food and contemporary American cooking sauces. Terms of the transaction were not disclosed.
Frontera’s premium salsa, sauces, snacks and meals feature the distinct flavors of Mexico. Red Fork is known for its premium American cooking sauces and Salpica is a unique Tex-Mex salsa line.
“We are excited to add the Frontera, Red Fork and Salpica brands to our portfolio. In particular, the Frontera brand is a preeminent gourmet Mexican food brand in North America. We believe it provides a tremendous platform off which we can build,” said Sean Connolly, president and chief executive officer of ConAgra Foods.
Shares of Under Armour Inc (NYSE:UA) ended Thursday session in red amid volatile trading. The shares closed down -0.34 points or -0.88% at $38.18 with 3.03 million shares getting traded. Post opening the session at $38.11, the shares hit an intraday low of $37.47 and an intraday high of $38.24 and the price vacillated in this range throughout the day. The company has a market cap of $15.76 billion and the numbers of outstanding shares have been calculated to be 183.39 million shares.
Under Armour Inc (UA) announced that Jason LaRose has been named President, North America. He will succeed Matthew Mirchin, who will transition to the role of Strategic Advisor, Global Revenue.
Mr. Mirchin has been with the Company since 2005, serving in a number of senior management positions in sales and marketing. Mr. LaRose joined Under Armour in 2013 to lead its Global E-Commerce business, eventually becoming Senior Vice President of Digital Revenue in 2015. Both executives have been key contributors to Under Armour’s global success and will continue to work together to deliver a best-in-class consumer experience and strong results across its sales channels. During this transition period, Mr. LaRose will continue to lead the E-Commerce business, while being actively involved in the search process to identify his successor.
“I would like to thank Matt for his strong leadership, vision and many contributions including leading the sales and marketing organizations at Under Armour over the last 11 years,” said Kevin Plank, Founder and CEO of Under Armour. “During his time at the company, Matt has become one of our chief architects in building the Under Armour brand and telling our story around the world. I would also like to congratulate Jason on his new role, where he and Matt will continue to accelerate our footprint in North America.”