Conagra Brands, Inc. (NYSE: CAG) remains focused on transforming into a branded, pure-play consumer packaged goods food organization. The company looks forward to enlarging its food businesses, buoyed by innovation and organic growth, along with expansion into adjacent categories, comprising acquisitions. It has also been making divestitures to boost its overall portfolio.
In the latest development, the company revealed that it has concluded its earlier announced transaction regarding the divestiture of its 51.8% ownership stake in Agro Tech Foods Limited.
The Latest Divestiture to Boost CAG's Portfolio
Management informed that all the conditions for the sale (by one of its subsidiaries) of its 51.8% interest in Agro Tech Foods, which is an Indian-based food company, have been fulfilled. CAG intended to sell this stake in the second quarter of fiscal 2024.
The completion highlights an important strategic move to redesign Conagra's portfolio in a bid to enrich shareholders' value. This is a majority-owned subsidiary consolidated within the company's International segment. Post the sale, Agro Tech Foods' results will no longer be consolidated in CAG's financial statements.
Conagra's Other Strategic Moves
Prudent innovations have been helping the company to modernize its portfolio and meet consumers' changing needs. It maintains its focus on investing in innovation, considering it the primary asset in its strategic approach and essential for enhancing its brands and fostering sustainable growth.
The company's actions, focused on re-engaging consumers with existing products and introducing them to new innovations, give it confidence in driving momentum through multifaceted brand-building investments. Conagra has been making advertising investments in major brands like ...
