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State: 05.05.2025 | 11PM
Thu, 01.05.2025       Conagra Brands
US2058871029

Divestiture Supports Conagra's Efforts to Reshape its Portfolio  

CHICAGO, May 1, 2025 /PRNewswire/ -- Today Conagra Brands, Inc. (NYSE: CAG) announced that it has entered into a definitive agreement with Hometown Food Company, a portfolio company of Brynwood Partners, to divest its iconic line of Chef Boyardee® brand shelf-stable products including its classic, convenient, ready-to-eat pasta meals. The transaction includes the manufacturing facility in Milton, Pa., as well as all assets and operations dedicated to the Chef Boyardee shelf-stable products with the exception of frozen skillet meals, which will be licensed by Hometown Food Company to Conagra. The Chef Boyardee products that are part of the transaction contributed approximately $450 million USD to Conagra's fiscal year 2024 net sales. The divestiture is subject to customary closing conditions, including the receipt of any applicable regulatory approvals. The sale price is $600 million in cash and is expected to close in Q1 of Conagra's fiscal year 2026.

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