Schwan's Raising Frozen Food Prices

MINNEAPOLIS -- Citing hikes in raw materials and energy costs, Schwan's Consumer Brands North America, Inc. here said today it would raise prices by approximately five percent across its portfolio of pizza and snack products effective Aug. 26.

The company distributes brands including Red Baron, Freschetta, and Tony's, and Wolfgang Puck All Natural pizzas, Asian Sensations snacks and appetizers, and Larry's potatoes.

"Retail food prices have increased in the second quarter over the first quarter of 2007 as a result of increased global market demand for agricultural products and energy, as well as increased raw material prices driven by more agricultural acreage going into the production of ethanol," said Greg Flack, president of Schwan's Global Consumer Brands, Inc. “This, along with the continued increase in the cost of healthcare and transportation, has led us to this decision.

“We have seen consumers vote strongly in favor of our brands and innovation over this past year,” Flack said. “This price increase is necessary to allow us to continue to provide the highest of quality to our retailer partners and consumers, and also maintain our innovation momentum."
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