top of page

The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

FoodBev Media Logo
Access more as a FoodBev subscriber

Sign up to FoodBev and unlock more insights from the international food and beverage industry. Subscribers have access to webinars, newsletters, publications and more...

Domino September - Website Banner - GS1 - 300x250.gif
Conagra Brands completes sale of Agro Tech Foods stake
Siân Yates

Siân Yates

28 August 2024

Conagra Brands completes sale of Agro Tech Foods stake

Conagra Brands has finalised the sale of its 51.8% ownership stake in Agro Tech Foods Limited (ATFL), as part of its ongoing strategy to streamline its portfolio and enhance shareholder value.


The transaction marks the completion of all necessary conditions for the divestiture by one of Conagra's subsidiaries.


With this sale, Conagra will no longer consolidate ATFL's financial results, which could impact its overall financial reporting and future strategic decisions.


The company has been actively reshaping its business model to adapt to shifting consumer preferences and competitive pressures within the food and beverage sector.


Agro Tech Foods, based in India, is known for its diverse range of products, including snacks and health-focused food items.


The divestiture aligns with Conagra's broader goal of focusing on its core brands, which include Birds Eye, Duncan Hines and Healthy Choice, among others.


The decision to divest comes amid a backdrop of increasing demand for innovation and agility in the food industry, as manufacturers seek to respond to evolving consumer tastes.


At the beginning of August, Conagra also acquired Sweetwood Smoke & Co, the maker of Fatty Smoked Meat Stick.


Speaking about the purchase of Sweetwood Smoke, Sean Connolly, president and CEO of Conagra Brands, stated that the acquisition is another step in reshaping Conagra’s portfolio for faster growth. “Adding a premium brand such as Fatty to our growing, better-for-you snack portfolio is consistent with our strategic focus on the snacking and frozen categories,” he said.


In fiscal 2024, Conagra reported net sales exceeding $12 billion.


The company’s strategic moves reflect a growing trend among food manufacturers to reassess their portfolios in light of market dynamics and investor expectations.


Image: © Conagra Brands


#ConagraBrands #AgroTechFoods #divestiture

Related posts
Marine Biologics secures funding to develop novel ingredients from Alaskan kelp
Funding & Investments

Marine Biologics secures funding to develop novel ingredients from Alaskan kelp

Ferrero opens Illinois Kinder Bueno production facility
Confectionery

Ferrero opens Illinois Kinder Bueno production facility

Diageo strengthens non-alcoholic spirits portfolio with Ritual Zero Proof acquisition
Mergers & Acquisitions

Diageo strengthens non-alcoholic spirits portfolio with Ritual Zero Proof acquisition

Kind Snacks appoints Daniel Calderoni as new CEO for North America
Appointments

Kind Snacks appoints Daniel Calderoni as new CEO for North America

General Mills to divest North American yogurt business to Lactalis and Sodiaal for $2.1bn
Business

General Mills to divest North American yogurt business to Lactalis and Sodiaal for $2.1bn

Ferrero Rocher launches Dark Hazelnut and Crunchy Salted Caramel chocolate bar
Confectionery

Ferrero Rocher launches Dark Hazelnut and Crunchy Salted Caramel chocolate bar

bottom of page