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Conagra Brands has agreed to sell its Peter Pan peanut butter brand to Post Holdings – which already has been contract manufacturing the product. Price was not disclosed.
Peter Pan has a 100-year-old history and a diversified customer base across key channels, the companies said. All Peter Pan products currently are manufactured by 8th Avenue Food & Provisions, an affiliate of Post.
Under the terms of the agreement, Conagra will help transition the business to Post. The deal is expected to close in the first quarter of 2021.
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