News Release
ConAgra Foods to Sell Private Label Operations to TreeHouse Foods
Mr. Connolly continued, “Today’s announcement follows a robust sale
process involving more than 35 potential buyers, including both
strategic buyers and financial sponsors. We are confident that the
private label business will be in good hands with
Under the terms of the agreement,
The Company expects to generate approximately
The transaction is subject to customary closing conditions and
regulatory clearances, and is expected to close in the first quarter of
calendar year 2016.
About
Note on Forward-looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on management’s current
expectations and are subject to uncertainty and changes in
circumstances. These risks and uncertainties include, among other
things: ConAgra Foods’ ability to successfully execute an exit option
for its private label operations within the expected time frame or at
all; ConAgra Foods’ ability to successfully execute its long-term value
creation strategy; ConAgra Foods’ ability to realize the synergies and
benefits contemplated by the Ardent Mills joint venture; risks and
uncertainties associated with intangible assets, including any future
goodwill or intangible assets impairment charges; the availability and
prices of raw materials, including any negative effects caused by
inflation or weather conditions; the effectiveness of ConAgra Foods’
product pricing, including product innovation, any pricing actions and
changes in promotional strategies; the ultimate outcome of litigation,
including litigation related to the lead paint and pigment matters;
future economic circumstances; industry conditions; the effectiveness of
ConAgra Foods’ hedging activities, including volatility in commodities
that could negatively impact ConAgra Foods’ derivative positions and, in
turn, ConAgra Foods’ earnings; ConAgra Foods’ ability to execute its
operating and restructuring plans and achieve operating efficiencies;
the success of ConAgra Foods’ cost-saving initiatives, innovation, and
marketing investments; the competitive environment and related market
conditions; the ultimate impact of any ConAgra Foods’ product recalls;
access to capital; actions of governments and regulatory factors
affecting ConAgra Foods’ businesses, including the Patient Protection
and Affordable Care Act; the amount and timing of repurchases of ConAgra
Foods’ common stock and debt, if any; the costs, disruption and
diversion of management’s attention associated with campaigns commenced
by activist investors; and other risks described in ConAgra Foods’
reports filed with the
View source version on businesswire.com: http://www.businesswire.com/news/home/20151102005778/en/
Source:
ConAgra Foods, Inc.
MEDIA:
Jon Harris, 630-857-1440
jon.harris@conagrafoods.com
or
INVESTORS:
Chris
Klinefelter, 402-240-4154
Chris.Klinefelter@ConAgraFoods.com
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