Utz quality foods, llc completed the acquisition of direct store delivery snacks business from conagra brands, inc. (nyse:cag).

Utz quality foods, llc entered into a definitive agreement to acquire direct store delivery snacks business from conagra brands, inc. (nyse:cag) for $140 million on september 11, 2019. the purchase price under the agreement is $140 million in expected cash proceeds, subject to final working capital adjustments. the sale includes the tim's® cascade snacks, hawaiian® snacks, erin's®, snyder® of berlin and husman's® brands. the transaction is subject to regulatory approval and customary closing conditions and is expected to be completed before the end of the calendar year. following the closing of the transaction, the expected annualized impact of the divestiture is a reduction of approximately $110 million of net sales and $0.02 of adjusted eps. tim fitzsimons of jones day acted as legal advisor to conagra brands, inc utz quality foods, llc completed the acquisition of direct store delivery snacks business from conagra brands, inc. (nyse:cag) on october 21, 2019. the sale also includes pop-n-thin®.
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