Conagra Brands Inc. has completed the divestiture of the portion of its snacks business that operates under a Direct-Store-Delivery model to Utz Quality Foods LLC.
The brands included in the sale are Tim's® Cascade Snacks, Hawaiian® Snacks, Erin's®, El Restaurante®, Snyder® of Berlin, Pop-N-Thin® and Husman's®. Financial terms were not disclosed.
Snacking will continue to be a critical part of Chicago-based Conagra's overall growth strategy, the $9.5 billion company said in a news release. Following the transaction, Conagra Brands has a $2 billion snacking portfolio, with both large, iconic brands and fast-growing emerging brands across meat snacks, seeds, popcorn, sweet treat and specialty categories, the company says.
