Latest news with #Conagra
Yahoo
2 days ago
- Business
- Yahoo
Conagra Brands Enters Into a Definitive Agreement with High Liner Foods to Divest the Van de Kamp's® and Mrs. Paul's® Brands
Divestiture Supports Conagra's Efforts to Reshape its Portfolio CHICAGO, June 6, 2025 /PRNewswire/ -- Today Conagra Brands, Inc. (NYSE: 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 $55 million 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 $75 million to Conagra's fiscal year 2024 net sales. The profit from the divested brands is expected to have a ($0.01) 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. "This divestiture reflects our continued commitment to reshaping our portfolio and investing where we see the best opportunities for growth and innovation," said Sean Connolly, president and chief executive officer of Conagra Brands. "Van de Kamp's and Mrs. Paul's operate largely as a stand-alone seafood business, and this divestiture allows us to further focus our efforts on strengthening our core frozen offerings." Van de Kamp's and Mrs. Paul's are leading brands in the U.S. frozen breaded and battered seafood category, offering a variety of formats for snacks and meals, including crispy battered fillets, breaded fish for sandwiches and tacos, and classic fish sticks. 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 Forward-Looking and Cautionary StatementsThis 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 satisfy the 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:Media@ INVESTORS:Matthew NeisiusIR@ View original content to download multimedia: SOURCE Conagra Brands, Inc.
Yahoo
2 days ago
- Business
- Yahoo
Conagra to sell seafood brands Van de Kamp's and Mrs. Paul's for $55M
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Conagra Brands reached a deal to sell its Van de Kamp's and Mrs. Paul's brands to seafood producer High Liner Foods for $55 million. The transaction allows Conagra to "further focus our efforts on strengthening our core frozen offerings," Sean Connolly, Conagra's president and CEO, said in a statement. The two frozen seafood brands contributed approximately $75 million to Conagra's fiscal year 2024 net sales. The sale marks the latest divestiture for the Chicago-based food manufacturer as it aims to streamline its portfolio and lower its debt. Earlier this week, Conagra closed on the sale of Chef Boyardee to Hometown Food for $600 million. Conagra's portfolio is built around snacks and frozen foods, which includes Healthy Choice, Birds Eye and Marie Callender's. The sale of Van de Kamp's and Mrs. Paul's shows the company is aiming to distance itself from a seafood category that has little overlap with the rest of its frozen offerings. Van de Kamp's and Mrs. Paul's are minor contributors to Conagra's business, which posted $12.1 billion in net sales during its 2024 fiscal year. "This divestiture reflects our continued commitment to reshaping our portfolio and investing where we see the best opportunities for growth and innovation," Connolly said in a statement, adding that Van de Kamp's and Mrs. Paul's operated largely as a standalone business. Van de Kamp's and Mrs. Paul's are leading brands in the U.S. frozen breaded and battered seafood category, Conagra said. The transaction, which does not include employees or manufacturing facilities, is expected to close by the end of July. Proceeds will be used to reduce debt. High Liner is already familiar with the fish brands it will be adding to its portfolio. It currently co-manufactures products for Mrs. Paul's and Van de Kamp's brands at its U.S. manufacturing facilities. The Canadian company is a top North American processor and marketer of frozen seafood under brands such as High Liner, Fisher Boy, Mirabel, Sea Cuisine and Catch of the Day labels. Recommended Reading Conagra to sell Chef Boyardee to private equity firm for $600M Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Daily Mail
2 days ago
- Business
- Daily Mail
Wendy's launches delectable new item…but you can't order it just anywhere
Wendy's fans can now find the brand's Double-Smoked Bacon in select Kroger and King Soopers locations. Food blogger Remi4all spotted the bacon while shopping at a Kroger supermarket in Kentucky. An Instagram user also claimed their local Kroger in Virginia offered the bacon. The $6.99 bacon comes after Wendy's released beef patties at Kroger and King Soopers stores in Ohio and Colorado. 'First the burgers, now Double-Smoked Bacon! I hope we get the nuggets and fries next,' Remi4all and fellow blogger Markie_devo joked in an Instagram post. Kroger hinted the product is available at stores in several states. Social media has been buzzing about the bacon since its appearances on various Instagram and TikTok posts. The burgers and bacon were introduced after Wendy's created signature canned chili in 2023. Social media users were surprised to see the bacon in stores The fast food chain partnered with Conagra to bring its ' beloved chili into homes across the country.' Today, the brand's chili with beans and no-bean chili cans are available for purchase at Kroger stores nationwide for $4.99 and $5.49, respectively. Other Wendy's-themed food available now at Kroger include Kellogg's Wendy's Frosty Chocolatey Cereal and Pringles Wendy's Spicy Chicken potato chips. When the fast food chain isn't busy creating products for retailers, it's participating in fast food wars with competitors like McDonald's and Burger King. The chain will be kicking off its '100 Days of Savings' campaign on June 8 with $1 Dave's Single cheeseburgers. Customers will be able to purchase the $1 burger at participating locations every Saturday until July 26. Besides its latest summer specials, customers can try out a Frosty Swirl or Frosty Fusions, deserts that debuted in April and May. Despite the competition, Wendy's, McDonald's, and Burger King have one thing in common: declining first quarter sales. Wendy's earned $3.4 billion in global systemwide sales during the first quarter, a 1.1 percent decreased compared to this time last year McDonald's suffered a 3.6 percent dip in US sales, one of its biggest drops in years. Burger King's North American sales fell by 1.3 percent and did not meet analysts' expectations. Wendy's $3.4 billion in global systemwide sales was a 1.1 percent decrease compared to last year's results. However, Wendy's CEO Kirk Tanner remained positive about the company results released in May. 'Importantly, we made progress on the strategic priorities we laid out at our investor day: providing fresh, famous food, delivering an exceptional customer experience, and accelerating global net unit growth. This included implementing a new field structure to better support franchisees and adding 68 net new restaurants across the globe,' he said. 'Looking ahead, we remain focused on these strategic priorities which will position Wendy's to win in the market and drive long-term growth across our global system of restaurants.'
Yahoo
5 days ago
- Business
- Yahoo
Conagra Brands Completes Divestiture of Chef Boyardee® Brand to Hometown Food Company, a Brynwood Partners Portfolio Company
CHICAGO, June 3, 2025 /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 For more information, please contact:MEDIA:Media@ NeisiusIR@ View original content to download multimedia: SOURCE Conagra Brands, Inc. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Entertainment
- Yahoo
Dolly Parton Reveals What She Really Thought About Beyonce's ‘Completely Different' Cover of ‘Jolene'
Beyoncé reimagines Dolly Parton's iconic song "Jolene" on her 2024 Cowboy Carter album, transforming it from a plea into a powerful warning Dolly Parton praises Beyoncé's Cowboy Carter, calling the album 'really, really good' and expressing pride in the bold reinterpretation of her 1973 hit Parton appears twice on Cowboy Carter, including as a fictional radio DJ on the track "Dolly P" and in a cameo at the start of Beyoncé's song "Tyrant"Don't come for her man! Dolly Parton's 1973 hit, 'Jolene," has had Parton fans singing along for decades, but in 2024, Beyoncé put a modern spin on it. Beyoncé, 43, covered the song on her 2024 album Cowboy Carter, changing the tone and key lyrics of the song to serve as more of a warning instead of Parton's plea. For example, where Parton sings, 'I'm beggin' of you, please don't take my man,' Beyonce declares, 'I'm warning you, don't come for my man.' In an interview with PEOPLE tied to the release of her single-serve frozen meals with Conagra brands, Parton gushed about Beyoncé and her musical talent. 'I'm a huge fan of hers — I mean, who's not? Everybody loves her,' Parton said. 'I think she's a magnificent artist, beautiful and the dancing in addition to the singing.' Never miss a story — sign up for to stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories. Parton called Cowboy Carter a 'really, really good album,' one that features two cameos from the Country Music Hall of Famer. Parton is heard in the track "Dolly P," in which she plays a fake radio DJ queuing up the next set of songs. The "9 to 5" singer also contributed to the song "Tyrant," which is featured later on the record. The 10th track on the album is Beyoncé's fiery rendition of 'Jolene,' which Parton loved. 'I was just honored that she, of course, did a completely different take on 'Jolene' than than my version of it," Parton tells PEOPLE. "Hers was more like, 'Well, you're not getting him, you're not taking him, you're going to go through me to get him.' Mine was more like, 'Please don't take him!' So I loved her interpretation." She continued, 'As a writer, you like to hear how different people interpret your songs, and how they put their own spin and do their own take on it. But I was very proud of it, and I hope her tour does great, and I'm sure it will. People seem to be loving it.' Beyoncé is currently on the road for the Cowboy Carter Tour, which is set to conclude on July 26, in Paradise, Nev. Read the original article on People
