(RTTNews) - Food company Conagra Brands Inc. (CAG) said Wednesday it signed a definitive agreement to sell its Direct Store Delivery, or DSD, snacks business to privately held, salty snack company Utz Quality Foods, LLC. Financial terms were not disclosed.
The sale comprises Tim's Cascade Snacks, Hawaiian Snacks, Erin's, Snyder of Berlin and Husman's brands. The sale is subject to customary closing conditions and is expected to be complete before the end of the calendar year.
Conagra Brands purchased the DSD snacks business in October 2018 as part of its acquisition of Pinnacle Foods.