Conagra Brands Enters Into a Definitive Agreement with High Liner Foods to Divest the Van de Kamp's® and Mrs. Paul's® Brands

Core Insights - Conagra Brands, Inc. has agreed to sell its Van de Kamp's® and Mrs. Paul's® frozen seafood brands to High Liner Foods for $55 million in cash, which includes all associated intellectual property and inventory [1][2] - The divested brands contributed approximately $75 million to Conagra's fiscal year 2024 net sales, and the sale is expected to have a ($0.01) impact on fiscal year 2026 adjusted earnings per share [1][2] - The transaction is anticipated to close by the end of July 2025, with proceeds aimed at reducing the company's debt [1] Company Strategy - The divestiture is part of Conagra's strategy to reshape its portfolio and focus on core frozen offerings, as stated by the CEO Sean Connolly [2] - Van de Kamp's and Mrs. Paul's are recognized as leading brands in the U.S. frozen breaded and battered seafood category, providing various products for snacks and meals [2] Company Overview - Conagra Brands, Inc. is a leading branded food company in North America, with a history of over 100 years and a focus on innovation and collaboration [3] - The company's portfolio includes well-known brands such as Birds Eye®, Duncan Hines®, and Healthy Choice®, and it generated over $12 billion in net sales for fiscal 2024 [3]