News Release

Conagra Brands Completes Divestiture Of Direct-Store-Delivery Model Snacks Business To Utz Quality Foods, LLC

Oct 21, 2019, 4:16 PM EDT

CHICAGO, Oct. 21, 2019 /PRNewswire/ -- Today Conagra Brands, Inc. (CAG) announced that it has completed the divestiture of the portion of its snacks business that operates under a Direct-Store-Delivery (DSD) model to Utz Quality Foods, LLC. The brands included in the sale are Tim's® Cascade Snacks, Hawaiian® Snacks, Erin's®, El Restaurante®, Snyder® of Berlin, Pop-N-Thin® and Husman's®. Financial terms were not disclosed.

Conagra Brands, Inc., headquartered in Chicago, is one of North America's leading branded food companies. (PRNewsfoto/Conagra Brands)

Snacking will continue to be a critical part of Conagra's overall growth strategy. Following the transaction, Conagra Brands has a $2 billion snacking portfolio¹, with both large, iconic brands and fast-growing, emerging brands across meat snacks, seeds, popcorn, sweet treat and specialty categories.

About Conagra Brands

Conagra Brands, Inc. (NYSE: CAG), headquartered in Chicago, is one of North America's leading branded food companies. Guided by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great food with a sharpened focus on innovation. The company's portfolio is evolving to satisfy people's changing food preferences. Conagra's iconic brands, such as Birds Eye®, Marie Callender's®, Banquet®, Healthy Choice®, Slim Jim®, Orville Redenbacher's®, Reddi-wip®, DAVID®, Snack Pack®, and Vlasic®, as well as emerging brands, including Angie's® BOOMCHICKAPOP®, Duke's®, Earth Balance®, Gardein®, and Frontera®, offer choices for every occasion. For more information, visit www.conagrabrands.com.

¹IRI POS, MULO+C, L52 week ending September 22, 2019

For more information, please contact:
MEDIA:
Mike Cummins
312-549-5257
michael.cummins@conagra.com

INVESTORS:
Brian Kearney
312-549-5002
ir@conagra.com

SOURCE Conagra Brands, Inc.