ConAgra Foods completes separation into two independent public companies
Clients ConAgra Foods, Inc.
Jones Day advised ConAgra Foods, Inc. (NYSE: CAG) in the separation of the Company into two independent public companies: one comprising its robust consumer portfolio of diverse and leading brands and the other comprising its market leading food service portfolio of innovative frozen potato products. The consumer brands business was renamed Conagra Brands, Inc. ("Conagra Brands") and the frozen potato business will operate under the Lamb Weston name. ConAgra Foods shareholders now own shares of both independent companies. The transaction was structured as a spin-off of the Lamb Weston business, tax-free to the Company and its shareholders.