ConAgra to Divest 52% Stake in Agro Tech FoodsConAgra to Divest 52% Stake in Agro Tech Foods

ConAgra Brands has announced that one of its subsidiaries has entered into a definitive agreement to divest its 51.8% ownership stake in Agro Tech Foods.

In November 2011,  ConAgra became the majority owner of Indian-based Agro Tech Foods, increasing its ownership of shares through the purchase of existing shares from a third party. The purchase price for the additional shares was approximately $10 million.

At that time, then-CEO of ConAgra Gary Rodkin stated the company has enjoyed a strong partnership with Agro Tech Foods, dating back to 1997. "We believe strongly in its business model and leadership team,. “Expanding our International business is a key part of our strategic plan, and India represents an attractive growth market for ConAgra Brands...."

Agro Tech Foods markets food and food ingredients to consumers and institutional customers in India. The company’s products include Sundrop branded edible oils, shelf-stable pudding and peanut butter, Crystal sunflower oil, Healthy World dried green peas, and, through a license from ConAgra, ACT II popcorn.

The transaction is expected to be completed by the end of 2024.