Conagra sells Chef Boyardee shelf-stable business to Hometown Food for $600M

CONAGRA BRANDS INC.

Sale price $600M cash; business contributed ~$450M net sales in FY2024.
Divestiture includes Milton, Pa. manufacturing facility; Conagra licenses frozen skillet meals back.
Estimated ~4% dilutive to adjusted EPS for FY2025 if closed at start; proceeds to pay down debt.
Expected to close in Q1 of Conagra's FY2026, subject to regulatory approvals.

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