Jones Day is acting as Antitrust counsel to Conagra Brands, Inc. in the $285 million sale of its Wesson oil brand to The J.M. Smucker Company.
The transaction is subject to customary closing conditions, including the receipt of any applicable regulatory approvals.
Wesson is an iconic edible oil in the U.S., with product offerings including vegetable, canola, corn and blended oils. Under the terms of the agreement, Conagra will continue to make the products sold under the Wesson brand and provide certain other transition services for up to one year following the close of the transaction.
Conagra Brands, Inc. (NYSE: CAG), headquartered in Chicago, is one of North America’s leading branded food companies. Guided by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great food with a sharpened focus on innovation. The company’s portfolio is evolving to satisfy people’s changing food preferences. Conagra’s iconic brands, such as Marie Callender’s®, Reddi-wip®, Hunt’s®, Healthy Choice®, Slim Jim® and Orville Redenbacher’s®, as well as emerging brands, including Alexia®, Blake’s® Frontera® and Duke’s®, offer choices for every occasion. With an ongoing commitment to corporate citizenship, Conagra Brands has been named to the Dow Jones Sustainability™ North America Index for six consecutive years.
Jones Day is advising Conagra Brands, Inc. on the deal with a team led by Kenneth Field.
Involved fees earner: Kenneth Field – Jones Day;
Law Firms: Jones Day;
Clients: Conagra Brands, Inc.;