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Conagra Brands, Inc. announced that it has entered into a definitive agreement with Richardson International to divest the Wesson oil brand. Richardson International is Canada’s largest agribusiness and is recognized as a global leader in agriculture and food processing.
The transaction is subject to customary closing conditions, including the receipt of any applicable regulatory approvals.
The company anticipates the transaction to be finalized by the end of the first quarter of calendar year 2019. The agreement includes all assets exclusively related to the Wesson brand, including the facility in Memphis, Tenn. Financial terms were not disclosed.
Wesson is an iconic edible oil in the U.S., with product offerings including vegetable, canola, corn and blended oils.