Latest news with #VandeKamp
Yahoo
09-06-2025
- Business
- Yahoo
High Liner to buy Mrs. Paul's, Van de Kamp's seafood brands from Conagra
Canada-based seafood group High Liner Foods is to acquire the Mrs. Paul's and Van de Kamp's brands from Conagra Brands. In a statement, High Liner Foods said it is paying US$55m for the brands, an amount that includes around $36m in inventory. The price remains subject to possible adjustments. Conagra said the deal covers intellectual property inventory but excludes employees and manufacturing sites. High Liner Foods has been co-manufacturing seafood products sold under the Mrs. Paul's and Van de Kamp's brands at its US-based facilities, producing an average of 25 million pounds per year. Products include battered fillets, breaded fish and fish sticks. The company markets branded retail products in the US and Canada under a range of labels, including High Liner, Fisher Boy and Mirabel. Paul Jewer, president and CEO of High Liner Foods, called the deal 'highly strategic', adding it will act as a 'catalyst for further growth in the US retail market'. Jewer said: 'By taking full ownership of these well established and respected brands, we will capture additional value for our shareholders and ensure a seamless transition for existing customers.' For Conagra, the sale is part of its strategy to 'reshape its portfolio'. Last month, Conagra agreed to sell its Chef Boyardee business to Hometown Food Company for $600m in cash. Sean Connolly, the president and CEO of Conagra, said: 'This divestiture reflects our continued commitment to reshaping our portfolio and investing where we see the best opportunities for growth and innovation. 'Van de Kamp's and Mrs. Paul's operate largely as a stand-alone seafood business, and this divestiture allows us to further focus our efforts on strengthening our core frozen offerings.' The Van de Kamp's and Mrs. Paul's products contributed around $75m to Conagra's fiscal year 2024 net sales. Conagra reported a 1.8% decline in reported net sales. amounting to a 2.1% decrease in organic terms. Net income fell by 49.1% to $347.7m. The cpmpany, headquartered in Chicago, owns other brands such as Duncan Hines, Healthy Choice, Marie Callender's, Slim Jim and Angie's Boomchickapop. "High Liner to buy Mrs. Paul's, Van de Kamp's seafood brands from Conagra " was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
06-06-2025
- Business
- Yahoo
Conagra to sell seafood brands Van de Kamp's and Mrs. Paul's for $55M
This story was originally published on Food Dive. To receive daily news and insights, subscribe to our free daily Food Dive newsletter. Conagra Brands reached a deal to sell its Van de Kamp's and Mrs. Paul's brands to seafood producer High Liner Foods for $55 million. The transaction allows Conagra to "further focus our efforts on strengthening our core frozen offerings," Sean Connolly, Conagra's president and CEO, said in a statement. The two frozen seafood brands contributed approximately $75 million to Conagra's fiscal year 2024 net sales. The sale marks the latest divestiture for the Chicago-based food manufacturer as it aims to streamline its portfolio and lower its debt. Earlier this week, Conagra closed on the sale of Chef Boyardee to Hometown Food for $600 million. Conagra's portfolio is built around snacks and frozen foods, which includes Healthy Choice, Birds Eye and Marie Callender's. The sale of Van de Kamp's and Mrs. Paul's shows the company is aiming to distance itself from a seafood category that has little overlap with the rest of its frozen offerings. Van de Kamp's and Mrs. Paul's are minor contributors to Conagra's business, which posted $12.1 billion in net sales during its 2024 fiscal year. "This divestiture reflects our continued commitment to reshaping our portfolio and investing where we see the best opportunities for growth and innovation," Connolly said in a statement, adding that Van de Kamp's and Mrs. Paul's operated largely as a standalone business. Van de Kamp's and Mrs. Paul's are leading brands in the U.S. frozen breaded and battered seafood category, Conagra said. The transaction, which does not include employees or manufacturing facilities, is expected to close by the end of July. Proceeds will be used to reduce debt. High Liner is already familiar with the fish brands it will be adding to its portfolio. It currently co-manufactures products for Mrs. Paul's and Van de Kamp's brands at its U.S. manufacturing facilities. The Canadian company is a top North American processor and marketer of frozen seafood under brands such as High Liner, Fisher Boy, Mirabel, Sea Cuisine and Catch of the Day labels. Recommended Reading Conagra to sell Chef Boyardee to private equity firm for $600M Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Toronto Star
06-06-2025
- Business
- Toronto Star
High Liner buying Mrs. Paul's and Van de Kamp's brands from Conagra for US$55M
LUNENBURG - Frozen seafood company High Liner Foods Inc. has signed a deal to buy the Mrs. Paul's and Van de Kamp's brands of frozen breaded and battered fish from Conagra Brands for US$55 million in cash. High Liner Foods currently co-manufactures products for Mrs. Paul's and Van de Kamp's brands at its U.S-based operations.
Hamilton Spectator
06-06-2025
- Business
- Hamilton Spectator
High Liner buying Mrs. Paul's and Van de Kamp's brands from Conagra for US$55M
LUNENBURG - Frozen seafood company High Liner Foods Inc. has signed a deal to buy the Mrs. Paul's and Van de Kamp's brands of frozen breaded and battered fish from Conagra Brands for US$55 million in cash. High Liner Foods currently co-manufactures products for Mrs. Paul's and Van de Kamp's brands at its U.S-based operations. High Liner chief executive Paul Jewer called it a strategic and compelling opportunity that will help further growth in the U.S retail market. The deal is expected to close at the end of the month, subject to customary closing conditions. In addition to its namesake brand, High Liner sells under several brands in the U.S. and Canada including Fisher Boy, Mirabel, Sea Cuisine, and Catch of the Day in addition to the Mirabel, Icelandic Seafood and FPI labels for restaurants and institutions. It is also a major supplier of private label seafood products to retailers and food service distributors. This report by The Canadian Press was first published June 6, 2025. Companies in this story: (TSX:HLF)
Winnipeg Free Press
06-06-2025
- Business
- Winnipeg Free Press
High Liner buying Mrs. Paul's and Van de Kamp's brands from Conagra for US$55M
LUNENBURG – Frozen seafood company High Liner Foods Inc. has signed a deal to buy the Mrs. Paul's and Van de Kamp's brands of frozen breaded and battered fish from Conagra Brands for US$55 million in cash. High Liner Foods currently co-manufactures products for Mrs. Paul's and Van de Kamp's brands at its U.S-based operations. High Liner chief executive Paul Jewer called it a strategic and compelling opportunity that will help further growth in the U.S retail market. The deal is expected to close at the end of the month, subject to customary closing conditions. In addition to its namesake brand, High Liner sells under several brands in the U.S. and Canada including Fisher Boy, Mirabel, Sea Cuisine, and Catch of the Day in addition to the Mirabel, Icelandic Seafood and FPI labels for restaurants and institutions. It is also a major supplier of private label seafood products to retailers and food service distributors. This report by The Canadian Press was first published June 6, 2025. Companies in this story: (TSX:HLF)
