ConAgra and its joint venture partners Cargill and Horizon Milling sell four U.S. flour mills to Miller Milling for $215 million
Client(s) ConAgra Foods, Inc.
Jones Day advised ConAgra Foods Food Ingredients Company, Inc. in its sale with joint venture partners Cargill, Incorporated and Horizon Milling, LLC of four U.S. flour mills for a combined initial purchase price of $215 million. The transaction was the result of an auction process that involved two rounds of bidding by multiple interested parties. The successful bidder, Miller Milling Company, LLC, and its parent, Japanese flour miller Nisshin Flour Milling, Inc., have entered into parallel asset purchase agreements with ConAgra, on the one hand, and Cargill and Horizon Milling, on the other, to purchase all four mills.