Conagra Brands (NYSE: CAG) shares began Tuesday positive, as its Duncan Hines subsidiary entered into an unprecedented, exclusive agreement with Dolly Parton, to develop a line of retail food items. The new line of Dolly Parton food products will include frozen, refrigerated, grocery and snack items inspired by down-home comfort cuisine.
"I loved co-creating my Duncan Hines line with Conagra and I'm thrilled we're going well beyond the baking aisle with new items across the store," said Dolly Parton. "We're looking to continue to inspire special moments in the kitchen, with some of my family's favorite recipes, and I think people are really going to love them!"
Tuesday’s news release reported the new products will start rolling onto store shelves nationwide this January, with an expanded lineup of Duncan Hines' mixes including Chocolate Cake Mix, Yellow Cake Mix, Cinnamon Crumb Cake Mix, Blueberry Muffin Mix and Banana Nut Muffin Mix. Additionally, the first single branded Dolly Parton item, Buttermilk Pancake Mix, will start hitting shelves this winter and marks Dolly's first foray into the breakfast category. More items are expected to launch later in 2024 including frozen items.
Said Conagra CEO Tom McGough, "This unprecedented partnership with Dolly Parton gives us an incredible opportunity to further cement Conagra Brands in our established categories, while authentically positioning us for tremendous growth in new ones including Southern cooking and comfort food.”
CAG shares took on 42 cents, or 1.5%, soon after Tuesday’s open to $29.15.
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