Jun
30
ConAgra to Sell Its Private-Label Business
ByUnder pressure from a prominent activist shareholder, ConAgraannounced plans on Tuesday to shed its private-label brands operation — less than three years after buying the business.
The move would essentially unwind the packaged food giant’s roughly $5 billion takeover of Ralcorp, a deal that the company had pursued for more than a year. Buying so-called white label brands, made for supermarkets and the like, was meant to serve as a complement to mainstay labels like Orville Redenbacher’s and Chef Boyardee.
But since that deal was struck in late 2012, the private-label business has proved far less lucrative than anticipated…
ConAgra to Sell Its Private-Label Business
