I worked at CAG during the 1990 and 2000s. Most of the brands were 2nd in their category or also-rans. There were years in the early 2000s when the only reason the company was profitable was because of the commodity trading unit which is now long-gone.
Taking the approx. $2.5 Bn. gained from the sale of the commodity unit to buy a generic food maker was brilliant. This company is in such a hole I don't think anything other than a takeover can save it in the long run.