Annie’s Recalls Frozen Pizzas Over Metal Fragments

The company expects to recover some money from insurance

   

Annie’s Recalls Frozen Pizzas Over Metal Fragments

Annies 300x241 Annie's Recalls Frozen Pizzas Over Metal FragmentsShares of Annie’s (NYSE:BNNY) dropped more than 4% in midday trading on Wednesday after the company began voluntarily recalling some frozen pizzas.

The company, known for the bunny mascot that appears on its packaging, issued the recall after metallic mesh particles were found in some pizza ingredients produced by an outside supplier for its rising crust frozen pizzas, Reuters noted.

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Company officials said they are working with federal regulators and have switched suppliers.

Annie’s said it had not received any reports of illness from consumers. Affected pizzas have expiration dates between January 9, 2013, and September 14, 2013.

The company, which is forecast to post $37 million in fiscal third-quarter sales, indicated that it expects lower pizza sales in the current quarter. Anticipated charges relating to the recall should be reversed due to proceeds from recall insurance.


Article printed from InvestorPlace Media, http://investorplace.com/2013/01/annies-recalls-frozen-pizzas-over-metal-fragments/.

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