Conagra Brands (CAG) announced that it has entered into a definitive agreement with High Liner Foods to sell its Van de Kamp’s and Mrs. Paul’s frozen seafood brands for $55M in cash. The transaction includes all associated intellectual property and inventory. The transaction does not include employees or manufacturing facilities. The Van de Kamp’s and Mrs. Paul’s products that are part of the transaction contributed approximately $75M to Conagra’s fiscal year 2024 net sales. The profit from the divested brands is expected to have a (1c) impact to fiscal year 2026 adjusted earnings per share. The transaction is expected to close by the end of July 2025 and proceeds from the transaction will be used to reduce debt.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CAG:
- Conagra Brands Faces Hold Rating Amid Revenue Miss and Strategic Challenges
- Conagra Brands price target lowered to $23 from $27 at Wells Fargo
- Conagra Brands price target lowered to $23 from $27 at Jefferies
- Trump Trade: Trump considers 50% tariff on EU, 25% on iPhones
- Trump admin report implies companies are worsening health of children, FT says