(PRNewswire) Conagra Brands recently announced that it has entered into a definitive agreement with Richardson International to divest the Wesson oil brand. The transaction is subject to customary closing conditions, including the receipt of any applicable regulatory approvals. Conagra anticipates the transaction being finalized by the end of the first quarter next year.
The agreement includes all assets exclusively related to the Wesson brand, including the facility in Memphis, Tennessee. Financial terms were not disclosed. Wesson's product offerings include vegetable, canola, corn and blended oils.
Richardson International is Canada's largest agribusiness, and a leading global food processing company. Chicago-based Conagra Brands has a portfolio that includes the Birds Eye, Marie Callender's, Banquet, Healthy Choice, Slim Jim and Vlasic brands.