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Conagra Foods completes the sale of JM Swank and Spicetec Flavors and Seasonings

Sean Connolly, president and chief executive officer of ConAgra Foods

Sean Connolly, president and chief executive officer of ConAgra Foods

July 27, 2016
ConAgra Foods, Inc. (NYSE: CAG) has announced the completion of two separate divestitures: the sale of its JM Swank business to Platinum Equity and the sale of its Spicetec Flavors & Seasonings business to Givaudan.

Sean Connolly, president and chief executive officer of ConAgra Foods:

"Today marks an important milestone for ConAgra Foods. The completion of these two divestitures is another step on our journey to becoming a more focused and higher performing company.”

“We truly appreciate the contributions of the JM Swank and Spicetec Flavors & Seasonings employees, and we’re confident that both companies will be well positioned for continued growth as part of Platinum Equity and Givaudan, respectively.”
ConAgra Foods generated approximately $488 million in combined net proceeds from the sales, subject to any final working capital adjustments.
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ConAgra Foods is a "leading branded, value-added" food company, organized into three businesses—Consumer Foods, International Foods and Commercial Products, which includes our Food and Ingredients and Trading and Merchandising Segments.