Conagra Brands Inc. is selling the Hebrew National hot dog brand to Brazilian company JBS SA, according to people familiar with the matter, reports The Wall Street Journal. The deal, which could be valued at around $700 million, may also include the liquid egg white brand Egg Beaters and sausage brand Odom’s Tennessee Pride.
However, any agreement is “likely weeks away” and Conagra could decide to keep the business or sell it to another company, according to the report.
Last December, a Credit Suisse report predicted a “portfolio reshaping revival” in 2021. A number of factors led to this prediction, including increased sales during the pandemic providing financial flexibility and management teams continuing to shift portfolios to high-growth brands. Full Story (Subscription required)
Related: Report: 2021 Will See Much 'Portfolio Reshaping'; Conagra Facilities Named Zero Waste Champions.
Image: Conagra Brands