USA: Conagra Brands to sell Mrs Paul’s and Van de Kamp’s frozen fish brands to High Liner Foods

Conagra Brands, a leading US food manufacturer, has announced that it has entered into a definitive agreement with High Liner Foods, a Canadian processor and marketer of frozen seafood, to sell its Van de Kamp’s and Mrs. Paul’s frozen seafood brands for $55 million in cash.

Mrs Paul’s and Van de Kamp’s dominate the US market for frozen breaded and battered seafood, with offerings such as fish for tacos, sandwiches, fish fingers and crispy fillets, and earned approximately $75 million for Conagra in its 2024 financial year. The transaction covers inventory and intellectual property but excludes all employees and manufacturing sites.

Commenting on the move, Conagra Brands president and chief executive officer Sean Connolly said: “This divestiture reflects our continued commitment to reshaping our portfolio and investing where we see the best opportunities for growth and innovation. Van de Kamp’s and Mrs. Paul’s operate largely as a stand-alone seafood business, and this divestiture allows us to further focus our efforts on strengthening our core frozen offerings”.

High Liner Foods president and chief executive officer Paul Jewer added: “By taking full ownership of these well established and respected brands, we will capture additional value for our shareholders and ensure a seamless transition for existing customers. We look forward to offering choice and value to an expanded portfolio of customers and consumers in the growing U.S market”.

The transaction is expected to close at the end of June, subject to customary closing conditions.

Source: Conagra Brands / High Liner Foods