India, June 3 -- Conagra Brands, Inc. (CAG), Tuesday announced that the company has completed the divestiture of the Chef Boyardee brand to Hometown Food Company, a Brynwood Partners portfolio company, for $600 Mln in cash.
The deal comprises of the manufacturing facility in Milton, PA, as well as all assets and operations dedicated to the Chef Boyardee shelf-stable products business.
However, the deal does not include frozen skillet meals, which will be licensed by Hometown Food Company to Conagra.
In the pre-market hours, Conagra's stock is trading at $22.79, up 0.15 percent on the New York Stock Exchange.
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