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Conagra Brands, Inc. is one of North America's leading branded food companies, with a portfolio that continually evolves to meet changing consumer pre

Conagra Sells Van de Kamp's and Mrs. Paul's Frozen Seafood Brands to High Liner Foods

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Wednesday, June 11, 2025, 00:10 (GMT + 9)

The $55 million deal with High Liner Foods aims to sharpen Conagra's focus on its core frozen offerings.

CHICAGO – Conagra Brands, Inc. (NYSE: CAG) announced it has entered into a definitive agreement to sell its Van de Kamp's® and Mrs. Paul's® frozen seafood brands toHigh Liner Foods for $55 million in cash. This divestiture aligns with Conagra's strategy to streamline its portfolio and sharpen its focus on core growth areas.

The transaction includes all associated intellectual property and inventory related to the two popular frozen seafood brands. Employees and manufacturing facilities are not part of the deal. In fiscal year 2024, the divested brands contributed approximately $75 million to Conagra's net sales. The company anticipates a minimal ($0.01) impact on its fiscal year 2026 adjusted earnings per share as a result of the sale.

The acquisition by High Liner Foods, a leading North American processor and marketer of value-added frozen seafood, is expected to close by the end of July 2025. Conagra plans to utilize the proceeds from the sale to reduce its debt.

Strategic Portfolio Reshaping

"This divestiture reflects our continued commitment to reshaping our portfolio and investing where we see the best opportunities for growth and innovation," said Sean Connolly, president and chief executive officer of Conagra Brands. "Van de Kamp's and Mrs. Paul's operate largely as a stand-alone seafood business, and this divestiture allows us to further focus our efforts on strengthening our core frozen offerings."

Van de Kamp's and Mrs. Paul's are well-known brands in the U.S. frozen breaded and battered seafood category, offering a variety of products including crispy battered fillets, breaded fish for sandwiches, and classic fish sticks.

Conagra Brands, Inc. is one of North America's leading branded food companies, with a portfolio that continually evolves to meet changing consumer preferences. Headquartered in Chicago, Conagra generated fiscal 2024 net sales of more than $12 billion.

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