CHICAGO, Mar. 6, 2018 /PRNewswire/ -- Conagra Brands, Inc.
(NYSE: CAG) today announced that the company and The J.M. Smucker
Company have terminated their agreement regarding the sale of
Conagra's Wesson oil business to The J.M. Smucker Company. This
outcome follows the decision of the Federal Trade Commission,
announced on March 5, 2018, to
challenge the pending transaction. Conagra Brands issued the
following statement:
"While we are disappointed by and disagree with the Commission's
decision, we have determined that it is in the best interest of our
shareholders, customers and employees to terminate the agreement to
sell the Wesson oil business to The J.M. Smucker Company rather
than pursue litigation."
The company intends to continue its evaluation of the role of
the Wesson oil business within its portfolio.
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 Marie Callender's®, Reddi-wip®,
Hunt's®, Healthy Choice®, Slim Jim® and Orville Redenbacher's®, as well as emerging
brands, including Alexia®, Blake's®, Frontera®, Duke's® and
Angie's® BOOMCHICKAPOP®, offer choices for every occasion. For more
information, visit www.conagrabrands.com.
For more information, please
contact:
MEDIA:
Kristine
Mulford
312-549-5522
Kristine.mulford@conagra.com
INVESTORS:
Brian
Kearney
312-549-5002
ir@conagra.com
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SOURCE Conagra Brands, Inc.