Conagra sells Chef Boyardee to Hometown Food Company

Conagra Brands sells the iconic Chef Boyardee brand to Hometown Food Company, a portfolio company of Brynwood Partners. The transaction includes the manufacturing facility in Milton, Pa., as well as all assets and operations dedicated to Chef Boyardee’s shelf-stable products with the exception of frozen skillet meals, which will be licensed by Hometown Food Company to Conagra.

The sale price is US$600 million in cash and is expected to close in Q1 2026.

“The Chef Boyardee divestiture marks another milestone in reshaping the Conagra Brands portfolio for better long-term growth, while also paying down debt. Despite the uncertain external environment, Conagra remains proactive in its pursuit of shareholder-value creation. By deepening our focus on our leading, growth-oriented frozen and healthy-snacking businesses, we continue to build a more focused company with modern consumer brands,” said Sean Connolly, president and chief executive officer of Conagra Brands.

Conagra expects to use the net proceeds from the transaction to pay down debt.

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