ConAgra Foods, Inc., (NYSE: CAG) one of North America's leading food makers, announced a new line of natural peanut butter spreads from its Peter Pan(R) brand. The three no-stir varieties—Natural Creamy, Natural Crunchy and Natural Honey Roast Creamy—are made with 100 percent natural ingredients and contain no high fructose corn syrup, hydrogenated oils, trans fat or preservatives.
"Some natural peanut butters are perceived as being too expensive, difficult to stir, and having oily pooling on top," said Karl Sears, vice president and general manager, ConAgra Foods. "Peter Pan Natural peanut butter spreads were developed to directly address these consumer barriers by offering the brand's perfect blend of 'peanutty' taste at a great value. Priced the same as the original Peter Pan varieties, there's no need to stir and no pooling on top."
Seemingly untouched by the recession, the natural segment is driving growth in the peanut butter category. Natural peanut butter dollar sales increased 9.4 percent this year with dollar sales for the total peanut butter category growing at 2.1 percent.(1) Currently, natural peanut butter accounts for 17 percent of all peanut butter sales.(2)
"Peter Pan is already the fastest growing peanut butter brand with dollar sales increasing more than 6 percent this year,"(3) Sears said. "We expect even more sales momentum as more people begin to incorporate natural foods into their diets. With the launch of Peter Pan Natural, we're now able to meet the needs of every peanut butter lover."
Peter Pan Natural peanut butter spread is now available at grocery retailers and supercenters nationwide for an average retail price of $2.21 for a 16.3-ounce jar and $3.67 for a 28-ounce jar. Natural Crunchy is currently available only in the 16.3-ounce size. Other popular Peter Pan varieties include Creamy, Crunchy, Honey Roast, Whipped, Reduced Fat and Plus. Visit the Peter Pan website or Facebook(R)page to learn more.
About ConAgra Foods
Peter Pan is a peanut butter brand of ConAgra Foods, Inc., (NYSE: CAG), one of North America's leading food companies, with brands in 97 percent of America's households. Consumers find Banquet, Chef Boyardee, Egg Beaters, Healthy Choice, Hebrew National, Hunt's, Marie Callender's, Orville Redenbacher's, PAM, Reddi-wip, Slim Jim, Snack Pack and many other ConAgra Foods brands in grocery, convenience, mass merchandise and club stores. ConAgra Foods also has a strong business-to-business presence, supplying frozen potato and sweet potato products as well as other vegetable, spice and grain products to a variety of well-known restaurants, foodservice operators and commercial customers. For more information, please visit us at www.conagrafoods.com.
(1) As measured by SymphonyIRI Group (IRI) for total US FDMx, 52 weeks ending Nov. 21, 2010.
(2) As measured by IRI for total US FDMx, 52 weeks ending Nov. 21, 2010.
(3) As measured by IRI for total US FDMx, 52 weeks ending April 17, 2011.