ConAgra Foods just made this big move to revamp its business

ConAgra said Monday it will sell its private-label brands business to TreeHouse Foods for $2.7 billion in cash.

Under the terms of the deal, ConAgra CAG will divest the vast majority of the company’s private label operations as well as 32 manufacturing facilities in the U.S., Canada and Italy. The proceeds from the deal will be used for debt reduction. Following the deal, TreeHouse THS will have pro forma...

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