ConAgra completes trading, merchandising unit sale
June 23, 2008
by FoodBusinessNews.net Staff
OMAHA — ConAgra Foods, Inc. has completed the sale of its commodity trading and merchandising operations conducted by ConAgra Trade Group.
ConAgra Trade Group was sold to an investor group led by Ospraie Special Opportunities Fund for approximately $2.8 billion.
Ospraie Special Opportunities Fund is an affiliate of Ospraie Management, and the sold businesses will operate as The Gavilon Group, L.L.C.
ConAgra also announced a $500 million increase to the company’s existing share buyback program.