Conagra Brands,The J.M. Smucker Company Enter Agreement
Conagra Brands enters into definitive agreement with The J.M. Smucker Company to divest the Wesson® Oil Brand
Conagra Brands, Inc. announced that it has entered into a definitive agreement with The J.M. Smucker Company to divest the Wesson oil brand. The transaction is subject to customary closing conditions, including the receipt of any applicable regulatory approvals. The transaction is valued at approximately $285 million.
"We continue to reshape our portfolio and focus our resources on priorities that support Conagra's business strategy and drive value creation for shareholders," said Sean Connolly, president and chief executive officer of Conagra Brands. "We believe The J.M. Smucker Company will be a terrific steward of the Wesson brand."