Conagra Brands has announced it has found a new buyer for its Wesson oil business, after a previous deal to sell the brand to JM Smucker fell through over anti-trust concerns.
The US food manufacturer and owner of brands such as Gardein, Reddi Whip and Marie Callender’s, said it had reached a definitive agreement to sell the Wesson division to Richardson International, Canada’s largest agribusiness firm.
Wesson is an edible oil business, with product offerings including vegetable, rapeseed, corn and blended oils.
The agreement includes all assets exclusively related to the Wesson brand, including a manufacturing facility in Memphis, TN. The transaction is expected to be finalized by the end of the first quarter of 2019.
Financial terms were not disclosed.
Source: Conagra Brands