A new corporate heavyweight will join Micron, the Simplot Co., Albertsons and other influential companies calling western Idaho’s Treasure Valley home.
Lamb Weston is in the process of spinning out of food manufacturing giant ConAgra into its own publicly traded company, specializing in manufacturing and distributing fries and other frozen potato products. At nearly $3 billion in annual revenues, Lamb Weston would probably be the sixth-largest company based in Idaho when it becomes a stand-alone company Nov. 1 and opens its corporate headquarters in Eagle, Idaho.
Without knowing much about the new company’s plans, adding another corporate player to the Valley can only portend good things for the business and nonprofit world, said Bill Connors, Boise Metro Chamber of Commerce president and CEO.
“Anytime you add high-end jobs, everybody is positively impacted,” Connors said. “For local charities, car dealerships, real estate agents, banks, retailers, you name it, that’s a good thing.”
Lamb Weston is the largest domestic frozen potato product supplier, and the second-largest in the world. Its international portfolio touches more than 100 countries. Though potatoes make up the majority of its sales, the company will also retain ConAgra’s frozen sweet potato, appetizer and other vegetable products business. ConAgra will keep its consumer foods segment that includes Marie Callender’s, Hunt’s, Slim Jim, Orville Redenbacher’s, P.F. Chang’s and Healthy Choice. The split will allow each company to better specialize their respective operations and be more nimble, driving shareholder value, according to a ConAgra release.
The Eagle office houses employees working in sales and marketing, as well as human relations, communications and finance, ConAgra spokeswoman Shelby Stoolman said. Most of the company’s potato buying and much of its processing happens in Washington’s Tri-Cities area, where it employs more than 4,000 people. With 321 corporate positions in Kennewick, Wash., it is one of the city’s top five private employers.
The company has 1,300 Idaho employees split among its Eagle office and manufacturing plants in Twin Falls and American Falls, Stoolman said.
The Eagle office, which was selected over Kennewick as company headquarters, will receive high-level executives moving from ConAgra headquarters in Chicago, Stoolman said. But for the most part, she said, the same Eagle employees will perform the same tasks as before the split.
Lamb Weston says it processes about 15 percent of Idaho’s potato acreage, and the company doesn’t plan to change its relationship with growers despite the corporate and administrative changes.
“Fundamentally, we’re not really changing the way we operate,” Stoolman said.
Source: Idaho Statesman