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Chef Boyardee has a new owner, as Conagra Brands sold the iconic canned food line to Brynwood Partners for $600 million.
The sale, which is expected to close in the first quarter of Conagra’s fiscal-year 2026, sees the private equity firm acquire assets and operations dedicated to the Chef Boyardee shelf-stable products, including its manufacturing facility in Milton, Pa.
“The Chef Boyardee divestiture marks another milestone in reshaping the Conagra Brands portfolio for better long-term growth, while also paying down debt,” Sean Connolly, president and CEO of Conagra Brands, said in a statement. “Despite the uncertain external environment, Conagra remains proactive in its pursuit of shareholder-value creation.
