CHICAGO, Dec. 18, 2018 (PRNewswire) — Conagra Brands, Inc. on Tuesday announced that it has entered into a definitive agreement with Richardson International to divest the Wesson oil brand. The agreement includes all assets exclusively related to the Wesson brand, including the facility in Memphis, Tennessee. Financial terms were not disclosed.
The transaction is subject to customary closing conditions, including the receipt of any applicable regulatory approvals. The transaction is anticipated to be finalized by the end of the first quarter of calendar year 2019.
Wesson is an iconic edible oil in the U.S., with product offerings including vegetable, canola, corn and blended oils.
Richardson International is Canada's largest agribusiness and is recognized as a global leader in agriculture and food processing.
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®, Reddi-wip®, 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.