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Last $41.63 USD
Change Today -0.27 / -0.64%
Volume 1.6M
CAG On Other Exchanges
Symbol
Exchange
Stuttgart
As of 1:48 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

conagra foods inc (CAG) Key Developments

Treehouse Reportedly In Discussions To Acquire ConAgra's Private-Label Food Business

Treehouse Foods, Inc. (NYSE:THS) is in talks to buy ConAgra Foods, Inc. (NYSE:CAG)'s private-label food business for around $3 billion, according to sources. Sam Reed, TreeHouse's chairman, president and chief executive, along with Chief Financial Officer Dennis Riordan, met with different groups of investors over two days in Manhattan this week, the source said. A TreeHouse spokesman confirmed the meetings, adding, "Sam Reed did not comment directly on any specific acquisitions."

ConAgra's Private Brands Assets Held For Sale Are Impaired

ConAgra Foods, Inc. (NYSE:CAG) says Private Brands assets held for sale are impaired. As previously announced on June 30, 2015, ConAgra Foods is pursuing the divestiture of its Private Brands operations. On August 7, 2015, management of ConAgra determined that assets related to the Private Brands segment are required to be classified as assets held for sale. As a result of this determination and preliminary indications of interest from potential buyers, management of ConAgra concluded that the assets held for sale are impaired.

TreeHouse, Post Reportedly Join ConAgra's Private Label Auction

Investors are reportedly seeking acquisition of stakes in Ralcorp Holdings Inc. ConAgra Foods, Inc. (NYSE:CAG) has started talks with Treehouse Foods, Inc. (NYSE:THS) and Post Holdings, Inc. (NYSE:POST) regarding the sale of its private label unit Ralcorp, which could be valued at around $3.5 billion, according to people familiar with the matter. TreeHouse, Post, and private equity firms that include Apollo Global Management, LLC (NYSE:APO)and Cerberus Capital Management, L.P. have joined the auction for Ralcorp, which is still at its early stages, the people said this week. ConAgra is seeking to sell the private label business, which also includes a bakery segment, in its entirety, rather than carving it into smaller parts, according to the sources. The sources asked not to be identified because details of the sale process are confidential. ConAgra, Apollo and Cerberus declined comment. TreeHouse and Post did not respond to requests for comment.

ConAgra Foods, Inc. Approves Dividend, Payable on September 1, 2015

The board of directors of ConAgra Foods, Inc. approved a dividend payment of $0.25 per common share to be paid on Sept. 1, 2015, to stockholders of record at the close of business on July 30, 2015.

ConAgra Foods to Appoint Bradley A. Alford and Timothy R. Mclevish to Board of Directors, Effective no Later than July 22, 2015

ConAgra Foods, Inc. and JANA Partners LLC announced an agreement in which ConAgra Foods will appoint Bradley A. Alford and Timothy R. McLevish to ConAgra Foods' Board of Directors, effective no later than July 22, 2015. With the addition of Messrs. Alford and McLevish, the ConAgra Foods Board will increase from 12 to 14 members. In connection with the appointments, ConAgra Foods and JANA Partners have entered into a cooperation agreement. Under the agreement, ConAgra Foods has agreed to nominate Mr. Alford and Mr. McLevish for election to the Board at the Company's 2015 Annual Meeting of Shareholders and JANA Partners has agreed to customary standstill and voting commitments. Brad Alford, 58, is the former chief executive officer and chairman at Nestle USA. Mr. Alford has approximately 35 years of experience in the consumer food and packaged goods industry. Prior to leading Nestle USA, Mr. Alford held a variety of senior leadership roles across the Nestle organization, including President and CEO of Nestle Brands and President, Confections & Snacks Division, Nestle USA. Tim McLevish, 60, is the former chief financial officer and executive vice president at Walgreens Boots Alliance, Inc. Mr. McLevish has over 15 years of experience in leading the finance organizations of large public companies.

 

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Industry Analysis

CAG

Industry Average

Valuation CAG Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.1x
Price/Book 4.0x
Price/Cash Flow NM Not Meaningful
TEV/Sales 0.6x
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