Conagra Discontinues Celeste Pizza After 64 Years on October 9

Conagra Brands has stopped producing Celeste frozen pizza, ending a brand that has occupied American grocery freezers for nearly 64 years. The company announced the decision during its September 30 earnings call, citing low profitability and the need to streamline its portfolio. CEO John Brase called it a “bold decision” to exit small, unprofitable brands. Remaining inventory will continue to be sold until supplies run out, though production has permanently ceased.

Why Conagra is cutting Celeste

Conagra cited Celeste as part of its SKU rationalization process, a review of individual products to remove those that no longer fit business priorities. CEO John Brase stated during the earnings call that “there are certain brands and categories where we simply just don’t see a future.” The company is redirecting resources toward higher-growth items like meat snacks and popcorn while reducing manufacturing complexity.

What happens to existing stock

Although production has ended, shoppers may still find Celeste pizzas in store freezers for a limited time. Conagra confirmed it will sell current inventory until supplies are depleted. Frozen food products maintain long shelf life, so remaining stock could linger at regional retailers into early 2027.

The brand’s history and legacy

Celeste began in 1937 when Celeste “Mama” Lizio and her husband opened a Chicago restaurant. About 25 years later, they began selling frozen pizzas to restaurants. Quaker Oats bought the business in 1969, and Mama Celeste became the brand’s spokeswoman. The brand became a top seller in the 1970s and 1980s, known for affordable personal-sized pizzas and the promise of “abbondanza,” or abundance.

What it means for Conagra investors

Conagra’s stock trades at $13.49 with a Meyka grade of B and a Hold recommendation. The company carries high debt relative to equity and negative returns on assets and equity, reflecting broader profitability challenges. Analyst consensus is Hold, with two Buy ratings, four Hold, and one Sell. The Celeste discontinuation signals management’s focus on margin improvement, though execution risk remains high given the company’s financial metrics.

Final Thoughts

Conagra’s discontinuation of Celeste reflects a broader push to cut unprofitable brands and improve margins under new CEO John Brase. While the move may help streamline operations, Conagra’s weak financial metrics and negative equity returns suggest execution challenges ahead. Investors should monitor whether the portfolio restructuring delivers promised profitability gains.

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The content shared by Meyka AI PTY LTD is solely for research and informational purposes.  Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.