Conagra Brands sells Chef Boyardee to Hometown Food for $600M

Conagra Brands Inc. has signed a deal to divest its Chef Boyardee brand to Hometown Food Company for US$600 million.

The deal includes a manufacturing facility in Milton, Pennsylvania, as well as all assets and operations dedicated to the line of ready-to-eat pasta meals.

Chef Boyardee’s frozen skillet meals will be licensed by Hometown Food Company to Chicago-headquartered Conagra.

The deal is expected to close in the first quarter of Conagra’s fiscal 2026.

"The Chef Boyardee divestiture marks another milestone in reshaping the Conagra Brands portfolio for better long-term growth, while also paying down debt. Despite the uncertain external environment, Conagra remains proactive in its pursuit of shareholder-value creation. By deepening our focus on our leading, growth-oriented frozen and healthy-snacking businesses, we continue to build a more focused company with modern consumer brands," said Sean Connolly, president and chief executive officer of Conagra Brands, in a press release.