Lamb Weston

Lamb Weston Holdings, Inc., headquartered in Eagle, Idaho, stands as North America's largest and the world's second-largest producer of branded and private-label frozen potato products, serving as a leading supplier to restaurants and retailers globally. The company's portfolio is anchored by french fries, but extends to a comprehensive range of frozen potato products including sweet potato fries, tater tots, diced potatoes, mashed potatoes, hash browns, and chips. With approximately 10,000 employees across six continents, Lamb Weston sells its products in over 100 countries, though roughly two-thirds of revenue comes from its home market of North America, with McDonald's representing 15% of fiscal 2025 sales as the company's single-largest customer.

The company's history traces back to 1950 when F. Gilbert "Gib" Lamb incorporated Lamb Weston, Inc. in a former co-op plant in Weston, Oregon, transforming his family's fresh fruit packing business into a market leader in the processed potato industry. A pivotal innovation came in 1961 when Gib invented and patented the Lamb Water Gun Knife, which revolutionized the industry by allowing potatoes to be cut mechanically into uniformly straight pieces (french fries), giving the company a decisive competitive advantage. After being acquired by ConAgra Foods in 1988 and operating as a subsidiary for nearly three decades, Lamb Weston became an independent publicly traded company in November 2016 when ConAgra spun off the business to its shareholders, establishing it as a standalone entity focused exclusively on frozen potato products.

Lamb Weston's financial performance has demonstrated significant growth since its 2016 independence, with net sales expanding from $3.819 billion in fiscal 2017 to $6.451 billion in fiscal 2025, representing a compound annual growth rate of approximately 6.8%. The company reported revenue of $6.468 billion for fiscal 2024, a 20.88% increase from 2023, though revenue for the twelve months ending February 2025 was $6.387 billion, reflecting a 2.49% year-over-year decline as the company faced challenging market conditions including sluggish demand for frozen potato products at restaurants and retailers. In response, the company announced a restructuring plan in October 2024 that included closing its Connell, Washington facility, temporarily curtailing production lines and schedules across its North American network, and reducing approximately 4% of its global workforce (roughly 428 jobs) to generate approximately $55 million in pre-tax cost savings and a $100 million reduction in capital expenditures.

Despite near-term headwinds, Lamb Weston continues to invest in innovation and capacity expansion. In 2024, the company celebrated the grand opening of its newly expanded French fry manufacturing line in American Falls, Idaho, designed to boost production capacity by approximately 40%. The company has also pursued strategic acquisitions to strengthen its market position, including the 2021 purchase of Ready Meals for $200 million and the 2023 acquisition of Australian food manufacturer Crackerjack Foods. However, 2024-2025 has brought leadership transitions, with Tom Werner stepping down as President and CEO in January 2025 after leading the organization through its 2016 spin-off from ConAgra, and being succeeded by Mike Smith, a 17-year Lamb Weston veteran who previously served as Chief Operating Officer.

Lamb Weston's mission is to create experiences that inspire and serve customers around the world with food they love and trust, guided by five core values: Integrity, Inclusion, Teamwork, Drive for Results, and Empowerment. The company operates with a family-oriented culture that emphasizes competitive compensation, comprehensive benefits including health insurance, 401(k) with employer matching, tuition reimbursement, and flexible work arrangements. As the global demand for convenient, high-quality frozen potato products continues to grow, Lamb Weston's position as an industry leader with state-of-the-art manufacturing facilities, proprietary processing technologies, and deep customer relationships positions it to navigate market challenges while capitalizing on long-term growth opportunities in both foodservice and retail channels worldwide.