M&A Deal Summary

Hometown Food Acquires Chef Boyardee

On May 1, 2025, Hometown Food acquired consumer products company Chef Boyardee from Conagra Brands for 600M USD

Acquisition Highlights
  • This is Hometown Food’s 1st transaction in the Consumer Products sector.
  • This is Hometown Food’s largest (disclosed) transaction.
  • This is Hometown Food’s 5th transaction in the United States.
  • This is Hometown Food’s 1st transaction in Illinois.

M&A Deal Summary

Date 2025-05-01
Target Chef Boyardee
Sector Consumer Products
Buyer(s) Hometown Food
Sellers(s) Conagra Brands
Deal Type Divestiture
Deal Value 600M USD

Target

Chef Boyardee

Chicago, Illinois, United States
Chef Boyardee is an American brand of shelf-stable meals, including both canned and microwave formats. The brand's products include Beef Ravioli, Spaghetti & Meatballs, Mini Ravioli, and Beefaroni products. Chef Boyardee products are primarily sold in grocery, mass retailer, and dollar store channels across the U.S. and have a strong presence in Canada and Puerto Rico. Chef Boyardee is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

Hometown Food

Chicago, Illinois, United States

Category Company
Founded 2018
Sector Food
DESCRIPTION

Hometown Food is a manufacturer and marketer of dry baking mixes, frozen pancakes, frozen waffles, frozen French toast, ready-to-spread frosting, flour, and other baking ingredients under the Pillsbury®, Funfetti®, Hungry Jack®, White Lily®, Jim Dandy®, Martha White®, Arrowhead Mills®, SunSpire®, De Wafelbakkers®, and Birch Benders® brands. Hometown Food was formed in 2018 and is based in Chicago, Illinois.


DEAL STATS #
Overall 5 of 5
Sector: Consumer Products M&A 1 of 1
Type: Divestiture M&A Deals 3 of 3
State: Illinois M&A 1 of 1
Country: United States M&A 5 of 5
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-05 De Wafelbakkers

North Little Rock, Arkansas, United States

De Wafelbakkers is a manufacturer of branded, co-manufactured and private label frozen pancakes, waffles, and French toast in the U.S. The Company's great-tasting products are sold to grocery and mass retailers, as well as into foodservice outlets nationally. De Wafelbakkers is headquartered in North Little Rock, Arkansas.

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Seller(S) 1

SELLER

Conagra Brands

Chicago, Illinois, United States

Category Company
Founded 1919
Sector Food
Employees18,500
Revenue 12.1B USD (2024)
DESCRIPTION
Conagra's office in Omaha, Nebraska.
Conagra's office in Omaha, Nebraska.

Conagra Brands is a packaged food company with branded and private branded food products. In addition to serving consumer households, ConAgra also offers food products to commercial food customers including restaurants and food service companies. Conagra Brands was founded in 1919 and is based in Chicago, Illinois.


DEAL STATS #
Overall 19 of 19
Sector: Consumer Products M&A 1 of 1
Type: Divestiture M&A Deals 19 of 19
State: Illinois M&A 3 of 3
Country: United States M&A 19 of 19
Year: 2025 M&A 1 of 1
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-09 FATTY Smoked Meat Sticks

Steamboat Springs, Colorado, United States

FATTY Smoked Meat Sticks provides protein-packed, better-for-you snacks for people on the go, made with high-quality pork and beef smoked with real hickory wood. FATTY Smoked Meat Sticks was formed in 1986 and is headquartered in Steamboat Springs, Colorado.

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