Business
Hometown Food Company, a Brynwood Partners Portfolio Company, Agrees to Acquire the Chef Boyardee® Brand from Conagra Brands, Inc.
Brynwood Partners IX L.P. announced today that its portfolio company, Hometown Food Company, has entered into a definitive agreement to acquire the Chef Boyardee® brand for $600 million from Conagra Brands, Inc. (NYSE: CAG). The transaction includes the 820,000 square foot facility in Milton, PA, as well as all assets and operations dedicated to the Chef Boyardee brand. The transaction is expected to close in the second quarter of 2025, subject to customary U.S. regulatory review.
About this update from Conagra Brands, Inc.
[{"type":"text","content":"GREENWICH, Conn., May 1, 2025 /PRNewswire/ -- Brynwood Partners IX L.P. announced today that its portfolio company, Hometown Food Company, has entered into a definitive agreement to acquire the Chef Boyardee® brand for $600 million from Conagra Brands, Inc. (NYSE: CAG). The transaction includes the 820,000 square foot facility in Milton, PA, as well as all assets and operations dedicated to the Chef Boyardee brand. The transaction is expected to close in the second quarter of 2025, subject to customary U.S. regulatory review.","length":546,"tagName":"p"},{"type":"image","alt":"Brynwood Partners logo","displaySize":"","headline":null,"caption":"Brynwood Partners logo","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":205,"url":"https://media.zenfs.com/en/prnewswire.com/b9ae4699e6ad133fe26f96f4e36e75a2"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/_h.XJRBJi4XAWhMMp.QPIQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM2MTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/b9ae4699e6ad133fe26f96f4e36e75a2","width":400,"height":205}},"href":"https://mma.prnewswire.com/media/368011/Brynwood_Partners_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Chef Boyardee is an iconic American brand and category leader in shelf-stable meals, including both canned and microwave formats. The business has a rich heritage spanning over 100 years. The brand began when the renowned Chef, Hector Boiardi, immigrated from Italy to the U.S. in the early 1900s. Known for its delicious family-friendly recipes, the brand has earned generations of consumer trust and is universally recognized for its Beef Ravioli, Spaghetti & Meatballs, Mini Ravioli, and Beefaroni products. Chef Boyardee products are primarily sold in the grocery, mass retailer and dollar store channels across the U.S. and have a strong presence in Canada and Puerto Rico. The business's Milton, PA manufacturing facility, with its approximately 500 employees, will complement Hometown's three existing manufacturing facilities.","length":946,"tagName":"p"},{"type":"text","content":"Hometown Food Company was formed by Brynwood in 2018 to acquire a portfolio of brands from The J.M. Smucker Company, including the U.S....