OMAHA, Neb. (AP) — 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.