The retailer has some big goals related to food.

As retailers seek to upgrade frozen food offerings and differentiate on the perimeter, AdvancePierre Foods is offering solutions.

John Simons, current chief executive officer, will retire on March 31, 2017.

A difficult third quarter has prompted the company to reduce its guidance for the year and reorganize.

Once the project is complete, production capacity will increase 70%.

New products, productivity efforts led to positive earnings, but margins were under pressure during the third quarter.

Management views innovation and 'premiumization' as keys to future growth.

The company is introducing 17 stock-keeping units in 3,500 U.S. retail stores.

The effort will focus on nutrition, the environment and society.

In its ice cream and tea business unit the company is focused on expanding into premium categories.