CHICAGO — Conagra Brands, Inc. has completed the sale of its 51.8% ownership stake in Agro Tech Foods Ltd., a food company in India. Conagra Brands no longer will consolidate the results of Agro Tech Foods in its financial statements.
In February, funds advised by Convergent Finance LLP and Samara Capitalreached an agreementto acquire the stake from Conagra. Agro Tech Foods is listed on the National Stock Exchange and the Bombay Stock Exchange. The Mumbai-based company manufactures, markets and sells food products and edible oils in categories such as ready-to-cook snacks, ready-to-eat snacks, spreads and dips, breakfast cereal, and chocolate confectionery items. Its portfolio includes ACT II popcorn and Sundrop edible oils. Agro Tech Foods will continue to license the ACT II brand from Conagra for use in India.
