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Omaha • Conagra Brands has completed the spinoff of its Lamb Weston frozen potato business and renamed the remaining packaged food company.
Conagra said it completed the spinoff on Wednesday and distributed shares of Lamb Weston to investors.
The move completes two years of transition at ConAgra, which used to be named ConAgra Foods. The company sold off its unit that made store brand foods, cut roughly 1,500 jobs and moved its headquarters to Chicago from Omaha, Nebraska.
Conagra CEO Sean Connolly says the company is ready to focus on growing sales of its brands, which include Orville Redenbacher, Banquet, Healthy Choice and Marie Callender's.
Lamb Weston is based in Eagle, Idaho, but it also has a major office in Kennewick, Washington. It produces a variety of frozen potato and vegetable products.