ConAgra Foods sells private label operations to TreeHouse Foods
ConAgra Foods, Inc., Omaha, Neb., reached a definitive agreement to sell its private label operations to TreeHouse Foods, Oak Brook, Ill., for approximately $2.7 billion in cash, excluding transaction-related expenses.
“The sale of our private label business marks another important milestone, as we re-make ConAgra Foods into a focused, higher-margin, more contemporary and higher-performing company,” says Sean Connolly, president and CEO, ConAgra Foods. “This transaction will enable ConAgra to sharpen our focus and resources on our consumer foods and commercial foods segments, as we continue to move quickly to drive sustainable growth and deliver enhanced shareholder value.”