Hometown Food Acquires Chef Boyardee from Conagra for $600 Million

Conagra Brands has agreed to sell its iconic Chef Boyardee brand to Hometown Food Company, owned by private equity firm Brynwood Partners, for $600 million. The deal includes Chef Boyardee's manufacturing facility in Milton, Pennsylvania, and its 500 employees, and is expected to close in the second quarter of 2025, pending regulatory approval. This transaction is part of Conagra's strategy to refocus on its core frozen and healthy-snacking businesses and pay down debt, while Hometown Food aims to expand its portfolio of nostalgic brands and boost annual revenues to over $1.6 billion. Chef Boyardee, a century-old brand known for its shelf-stable pasta meals, will join Hometown Food’s existing brands such as Hungry Jack and Arrowhead Mills. As part of the deal, Hometown Food will license Chef Boyardee’s frozen skillet meals back to Conagra. Both companies expressed optimism for a smooth transition and future brand growth.