Conagra Brands is announcing it has officially completed the divestiture of the Van de Kamp's and Mrs. Paul's frozen seafood brands to High Liner Foods. The sale includes all associated intellectual property and inventory, but does not include employees or manufacturing facilities.

Conagra Brands sold the two brands to High Liner Foods for $55 million in cash after previously announcing the sale on June 6, 2025.

The Van de Kamp's and Mrs. Paul's products that are part of the transaction contributed approximately $75 million to Conagra's fiscal year 2024 net sales. The profit from the divested brands is expected to have a ($0.01) impact to fiscal year 2026 adjusted earnings per share. The transaction is expected to close by the end of July 2025, and proceeds from the transaction will be used to reduce debt.

"This divestiture reflects our continued commitment to reshaping our portfolio and investing where we see the best opportunities for growth and innovation," said Sean Connolly, president and chief executive officer of Conagra Brands. "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."

Source: Conagra Brands