Conagra Brands Inc. will be closing its Pinnacle Foods office in Boulder, Colorado and, in the process, will be laying off 100 employees beginning in late May through March 2020, a recent report from The Denver Post has revealed. The company posted a worker readjustment and retraining notice on the Colorado Department of Labor and Employment in which it states that the entire office, previously the headquarters of Boulder Brands – parent company of Pinnacle Foods, will be closed entirely by the end of the year.
Conagra Brands acquired Pinnacle Foods, which has a portfolio of frozen, refrigerated and shelf-stable products for USD10.9bn last year. According to the report, the closure is a result of Conagra’s needs in conjunction with the post-acquisition integration of Pinnacle Foods. The Chicago-based company believes that the assimilation requires employees to be based in the same location, so they can work quickly and efficiently.
Conagra is said to be helping Boulder employees explore potential options. Many will have the opportunity to remain with Conagra, while the others will be offered severance pay and outplacement support.
In related news, Conagra recently announced it was considering strategic alternatives for its frozen pasta business, Gelit, which is headquartered in Doganella di Ninfa, Italy. The business has approximately 145 full-time employees and operates in a stand-alone, state-of-the-art facility in Europe.