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John S. Forrester
March 10, 2021
1 Min Read
Representative imageImage courtesy of Pixabay
Packaged foods manufacturer Conagra Brands has entered into conversations about a potential sale of its Hebrew National hot dog business, sources told Bloomberg and The Wall Street Journal this week.
The business may sell for about $700 million, and the transaction could also include Conagra’s Egg Beaters and Odom’s Tennessee Pride brands, the Journal reported. Sources said that a deal may materialize over the next several weeks, but Conagra could decide to keep the business.
IRI data gathered by Bloomberg Intelligence reveals that the three brands had combined sales of $575 million in the 52-week period that ended on February 21. Conagra is entering the talks as it is actively working to focus its efforts on frozen foods and snacks, Bloomberg said in its coverage of the potential deal.
If it opts to pursue the purchase, the addition of the business could expand JBS’ portfolio of consumer brands, the Journal said.
Powder & Bulk Solids reported this February that Kraft Heinz struck a deal to sell its Planters nut business to Hormel Foods for $3.35 billion. The company said it is shedding the business as it works to bolster its “powerhouse brands” and make gains in growth areas.
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