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Conagra Brands Completes Divestiture of Chef Boyardee® Brand to Hometown Food Company, a Brynwood Partners Portfolio Company

1. Conagra Brands divested the Chef Boyardee brand to Hometown Food Company. 2. The deal includes all Chef Boyardee operations except frozen skillet meals. 3. Conagra’s focus on brand evolution continues with diverse offerings. 4. Fiscal 2024 net sales surpassed $12 billion, showing robust performance. 5. Conagra aims to meet changing consumer preferences through innovation.

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FAQ

Why Bullish?

Divestitures can streamline operations and enhance focus on core brands. Previous divestitures, like the sale of Healthy Choice, led to market stability.

How important is it?

The divestiture aligns with Conagra's strategy to refine its portfolio, directly impacting stock performance.

Why Long Term?

The shift may take time to positively impact profitability and brand focus. Long-term brand management can deepen market position over time.

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BRANDHMTF
, /PRNewswire/ -- Today Conagra Brands, Inc. (NYSE: CAG) announced that it has completed the divestiture of the Chef Boyardee® brand to Hometown Food Company, a Brynwood Partners portfolio company. The transaction includes the manufacturing facility in Milton, Pa., as well as all assets and operations dedicated to the Chef Boyardee shelf-stable products business with the exception of frozen skillet meals, which will be licensed by Hometown Food Company to Conagra. About Conagra BrandsConagra Brands, Inc. (NYSE: CAG), is one of North America's leading branded food companies. We combine a 100-year history of making quality food with agility and a relentless focus on collaboration and innovation. The company's portfolio is continuously evolving to satisfy consumers' ever-changing food preferences. Conagra's brands include Birds Eye®, Duncan Hines®, Healthy Choice®, Marie Callender's®, Reddi-wip®, Slim Jim®, Angie's® BOOMCHICKAPOP®, and many more. As a corporate citizen, we aim to do what's right for our business, our employees, our communities and the world. Headquartered in Chicago, Conagra Brands generated fiscal 2024 net sales of more than $12 billion. For more information, visit www.conagrabrands.com. For more information, please contact:MEDIA:[email protected]INVESTORS:Matthew Neisius[email protected] SOURCE Conagra Brands, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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