Conagra Brands, Inc. recently entered into an agreement with High Liner Foods to sell its Van de Kamp’s and Mrs. Paul’s frozen seafood brands for $55 million in cash. The transaction includes all associated intellectual property and inventory. The transaction does not include employees or manufacturing facilities. The Van de Kamp’s and Mrs. Paul’s products that are part of the transaction contributed approximately $75 million to Conagra’s net sales for the 2024 fiscal year. The profit from the divested brands is expected to have an impact on adjusted earnings per share for the 2026 fiscal year. The transaction is expected to close by the end of July, and the proceeds will be used to reduce debt.

“This divestiture reflects our continued commitment to reshaping our portfolio and investing where we see the best opportunities for growth and innovation,” said Sean Connolly, president and chief executive officer of Conagra Brands. “Van de Kamp’s and Mrs. Paul’s operate largely as a standalone seafood business, and this divestiture allows us to further focus our efforts on strengthening our core frozen offerings.”