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ConAgra Foods completes sale of private label operations for $2.7 billion

Staff writer |
ConAgra Foods completed the sale of its private label operations to TreeHouse Foods for proceeds of $2.7 billion in cash.

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The price is excluding transaction-related expenses and subject to post-closing adjustments.

“The sale of the private label business to TreeHouse Foods is another important step for ConAgra Foods as we continue to transform the company to drive sustainable growth, more consistent performance and deliver enhanced shareholder value,” said Sean Connolly, president and chief executive officer of ConAgra Foods.

“We are confident the private label business will be well-positioned as part of TreeHouse Foods and our companies are working closely together to ensure a smooth transition for all stakeholders.”

Under the terms of the agreement, ConAgra Foods sold the vast majority of its private label operations, which are classified as discontinued operations. Among other assets, this includes a network of 32 manufacturing facilities in the U.S., Canada and Italy.

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