• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
PublishDashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI employees
    Legal
    Terms of usePrivacy policyCookie policy

    Conagra Brands Enters Into Definitive Agreement with Hometown Food Company, a Brynwood Partners Portfolio Company, to Divest the Chef Boyardee® Brand

    5/1/25 8:30:00 AM ET
    $CAG
    Packaged Foods
    Consumer Staples
    Get the next $CAG alert in real time by email

    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.

    Conagra Brands, Inc., headquartered in Chicago, is one of North America's leading branded food companies. (PRNewsfoto/Conagra Brands)

    "The Chef Boyardee divestiture marks another milestone in reshaping the Conagra Brands portfolio for better long-term growth, while also paying down debt. Despite the uncertain external environment, Conagra remains proactive in its pursuit of shareholder-value creation. By deepening our focus on our leading, growth-oriented frozen and healthy-snacking businesses, we continue to build a more focused company with modern consumer brands," said Sean Connolly, president and chief executive officer of Conagra Brands.

    The company estimates that, had the transaction been completed at the start of fiscal year 2025, the divestiture would have been approximately four percent dilutive to adjusted earnings per share for the year, excluding transaction costs and other one-time impacts. Conagra expects to use the net proceeds from the transaction to pay down debt. The company will further discuss the transaction and its impact on fiscal year 2026 when it releases its fourth quarter results.

    Centerview Partners LLC acted as the exclusive financial advisor to Conagra Brands. Mayer Brown LLP acted as legal counsel to Conagra Brands.

    About Conagra Brands

    Conagra 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.

    Forward-Looking and Cautionary Statements

    This press release contains forward-looking statements within the meaning of the federal securities laws that provide our current expectations and beliefs concerning future events including the timing and impact of the proposed transaction and are subject to risks, uncertainties, and factors relating to the transaction and our business and operations, all of which are difficult to predict and could cause our actual results to differ materially from the expectations expressed in or implied by such forward-looking statements. These risks, uncertainties, and factors include, among other things, risks related to the timing and ability to obtain the required regulatory approvals and satisfy the other closing conditions for the proposed transaction, the occurrence of any event, change or other circumstance that could delay the closing of the proposed transaction and other risks related to our business and operations such as: general economic and industry conditions, including inflation, reduced consumer confidence and spending, recessions, increased energy costs, supply chain challenges, increased tariffs and taxes, labor cost increases or shortages, currency rate fluctuations, and geopolitical conflicts; our ability to deleverage on currently anticipated timelines, and to continue to access capital on acceptable terms or at all; the company's competitive environment, cost structure, and related market conditions; our ability to execute operating and value creation plans and achieve returns on our investments and targeted operating efficiencies from cost-saving initiatives, and to benefit from trade optimization programs; the availability and prices of commodities and other supply chain resources, including raw materials, packaging, energy, and transportation, weather conditions, health pandemics or outbreaks of disease, actual or threatened hostilities or war, or other geopolitical uncertainty; our ability to respond to changing consumer preferences and the success of our innovation and marketing investments; actions by our customers, including changes in distribution and purchasing terms; our hedging activities and ability to respond to volatility in commodities; disruptions or inefficiencies in our supply chain and/or operations; the impact of any product recalls and product liability or labeling litigation;  our co-manufacturing arrangements and other third-party service provider dependencies; actions of governments and regulatory bodies that affect our businesses; a material failure in or breach of our or our vendors' information technology systems and other cybersecurity incidents; pension, labor or people-related expenses; any future goodwill or intangible assets impairment charges; our ability to protect our intellectual property rights; and other risks described in our reports filed from time to time with the Securities and Exchange Commission. We undertake no responsibility to update these statements, except as required by law.

    For more information, please contact:

    MEDIA:

    [email protected]

    INVESTORS:

    Matthew Neisius

    [email protected]

    Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/conagra-brands-enters-into-definitive-agreement-with-hometown-food-company-a-brynwood-partners-portfolio-company-to-divest-the-chef-boyardee-brand-302443490.html

    SOURCE Conagra Brands, Inc.

    Get the next $CAG alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $CAG

    DatePrice TargetRatingAnalyst
    6/16/2025$22.00Neutral
    UBS
    6/12/2025$20.00Neutral → Underperform
    BofA Securities
    6/9/2025$21.00Neutral → Sell
    Goldman
    3/24/2025$27.00Equal-Weight
    Morgan Stanley
    2/24/2025$33.00 → $26.00Buy → Neutral
    Goldman
    8/12/2024$36.00Buy
    Goldman
    2/1/2024$30.00Neutral
    Citigroup
    12/12/2023$31.00Equal Weight
    Wells Fargo
    More analyst ratings

    $CAG
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • EVP, GC and Corp. Secretary Bartell Carey converted options into 26,108 shares and covered exercise/tax liability with 7,650 shares, increasing direct ownership by 154% to 30,414 units (SEC Form 4)

      4 - CONAGRA BRANDS INC. (0000023217) (Issuer)

      6/10/25 5:13:32 PM ET
      $CAG
      Packaged Foods
      Consumer Staples
    • Director Marshall Ruth Ann was granted 1,373 shares, increasing direct ownership by 0.73% to 190,450 units (SEC Form 4)

      4 - CONAGRA BRANDS INC. (0000023217) (Issuer)

      6/4/25 5:31:42 PM ET
      $CAG
      Packaged Foods
      Consumer Staples
    • Director Arora Anil was granted 7,517 shares, increasing direct ownership by 80% to 16,903 units (SEC Form 4)

      4 - CONAGRA BRANDS INC. (0000023217) (Issuer)

      5/29/25 5:21:03 PM ET
      $CAG
      Packaged Foods
      Consumer Staples

    $CAG
    SEC Filings

    See more
    • ConAgra Brands Inc. filed SEC Form 8-K: Leadership Update

      8-K - CONAGRA BRANDS INC. (0000023217) (Filer)

      6/18/25 5:28:13 PM ET
      $CAG
      Packaged Foods
      Consumer Staples
    • ConAgra Brands Inc. filed SEC Form 8-K: Regulation FD Disclosure, Financial Statements and Exhibits

      8-K - CONAGRA BRANDS INC. (0000023217) (Filer)

      5/1/25 8:37:57 AM ET
      $CAG
      Packaged Foods
      Consumer Staples
    • ConAgra Brands Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation, Financial Statements and Exhibits

      8-K - CONAGRA BRANDS INC. (0000023217) (Filer)

      4/30/25 4:39:12 PM ET
      $CAG
      Packaged Foods
      Consumer Staples

    $CAG
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • UBS initiated coverage on Conagra with a new price target

      UBS initiated coverage of Conagra with a rating of Neutral and set a new price target of $22.00

      6/16/25 7:46:24 AM ET
      $CAG
      Packaged Foods
      Consumer Staples
    • Conagra downgraded by BofA Securities with a new price target

      BofA Securities downgraded Conagra from Neutral to Underperform and set a new price target of $20.00

      6/12/25 7:52:09 AM ET
      $CAG
      Packaged Foods
      Consumer Staples
    • Conagra downgraded by Goldman with a new price target

      Goldman downgraded Conagra from Neutral to Sell and set a new price target of $21.00

      6/9/25 7:45:39 AM ET
      $CAG
      Packaged Foods
      Consumer Staples

    $CAG
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Lenny Richard H bought $252,290 worth of shares (9,238 units at $27.31), increasing direct ownership by 6% to 165,205 units (SEC Form 4)

      4 - CONAGRA BRANDS INC. (0000023217) (Issuer)

      10/10/23 5:45:04 PM ET
      $CAG
      Packaged Foods
      Consumer Staples

    $CAG
    Press Releases

    Fastest customizable press release news feed in the world

    See more
    • Conagra Brands to Achieve Multi-Year Modernization Milestone in Frozen Portfolio by End of 2025

      CHICAGO, June 25, 2025 /PRNewswire/ -- Conagra Brands, Inc. (NYSE:CAG) announced that it will reach an important milestone in the company's long-standing portfolio modernization strategy by completing the removal of certified Food, Drug & Cosmetic colors ("FD&C colors") from its U.S. frozen product portfolio by the end of 2025. This milestone represents yet another important achievement in Conagra's multi-year journey to innovate and modernize products to meet evolving consumer trends. "Conagra Brands is known for innovating delicious, on-trend foods, and our transition away f

      6/25/25 10:30:00 AM ET
      $CAG
      Packaged Foods
      Consumer Staples
    • Conagra Brands Introduces More Than 50 New Frozen Foods, Elevating Convenience and Flavor for Consumers

      Offering includes new single-serve and multi-serve meals and vegetable sides CHICAGO, June 11, 2025 /PRNewswire/ -- Conagra Brands, Inc. (NYSE:CAG), one of North America's leading branded food companies, is debuting more than 50 delicious new frozen foods this June, including single-serve and multi-serve meals, vegetable side dishes, and gluten-free and plant-based meals. These foods arrive in stores and e-commerce outlets this month, adding dozens of delicious new choices within the company's portfolio of leading brands. With more than $1 billion in quarterly net sales1, Conagra Brands is a pace setter within the frozen foods industry.

      6/11/25 8:00:00 AM ET
      $CAG
      Packaged Foods
      Consumer Staples
    • Conagra Brands to Release Fiscal 2025 Fourth Quarter and Full Year Earnings on July 10, 2025

      CHICAGO, June 10, 2025 /PRNewswire/ -- Conagra Brands, Inc. (NYSE:CAG) will release its fiscal 2025 fourth quarter and full year results on Thursday, July 10, 2025. A press release and supplemental materials, including pre-recorded remarks, will be issued that morning prior to a 30-minute live question-and-answer session with the investment community at 9:30 a.m. ET. The pre-recorded remarks, transcript, press release, presentation slides, and live audio Q&A can be accessed at conagrabrands.com/investor-relations under Events & Presentations. The live audio Q&A can also be acc

      6/10/25 7:30:00 AM ET
      $CAG
      Packaged Foods
      Consumer Staples