Feedstuffs is part of the divisionName Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Conagra Brands Logo Conagra Brands

Conagra selling snack business to Utz Quality Foods

Transaction expected to close before end of year.

Conagra Brands Inc. announced Sept. 11 that it has entered into a definitive agreement to sell its direct store delivery (DSD) snack business to Utz Quality Foods LLC. The sale includes the Tim's Cascade Snacks, Hawaiian Snacks, Erin's, Snyder of Berlin and Husman's brands.

Conagra Brands acquired the DSD snacks business in October 2018 as part of its acquisition of Pinnacle Foods.

The transaction is subject to customary closing conditions and is expected to be completed before the end of the calendar year. Financial terms were not disclosed.

"We continue to reshape our portfolio and focus our resources on priorities that support Conagra's business strategy and create value for shareholders," Conagra Brands president and chief executive officer Sean Connolly said. "While Conagra has a large and growing snacks business, we do not currently operate with a DSD model. We believe this business will have more opportunity for growth under Utz, an established DSD operator."

Utz CEO Dylan Lissette said, "We are excited about the opportunity to add these important brands and capabilities to our portfolio. These brands bring a strong consumer following and unique craft heritage. Their distribution and manufacturing capabilities, along with their customer relationships, enhance our ability to further grow our brand portfolio further west."

TAGS: Business
Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish