Conagra Brands sells Wesson brand for $285M to Smucker

OMAHA, Neb. — Conagra is selling Wesson oil for $285 million to the J.M. Smucker Company as it hones its focus on its strongest brands.

CEO Sean Connolly said Tuesday that the sale is part of a reorganization that was undertaken after he was picked to lead Conagra in 2015.

Conagra moved its headquarters to Chicago from Omaha, Nebraska.

Smucker said Wesson is expected to add $230 million in sales and roughly $30 million in pretax earnings.

Conagra Brands will initially continue producing Wesson after the sale until the work moves to Smucker's existing oil manufacturing plant in Cincinnati, Ohio.

The Associated Press

Share This:

---

More News Articles