May 2, 2025 - Business

Chef Boyardee fetches $600 million in sale

Dan Primack

Chef Boyardee canned pasta on shelf — Photo: Daniel Acker/Bloomberg via Getty Images

Conagra Brands has agreed to sell canned pasta brand Chef Boyardee to Hometown Foods for $600 million in cash.

Why it matters: This is part of a trend whereby food conglomerates are dumping worse-for-you brands, even if iconic, due to the rise of GLP-1s and protein-heavy diets.

Zoom in: Chicago-based Hometown Foods makes Pillsbury's shelf-stable baking products, and is owned by private equity firm Brynwood Partners.

Brynwood hired bankers in early 2024 to sell Hometown, but later shelved the effort after bids came in lower than expected.

History lesson: The "real" Chef Boyardee was Hector Boiardi, an Italian immigrant who'd eventually become head chef at the Plaza Hotel in New York City. He'd later open his own restaurant in Cleveland.

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Chef Boyardee fetches $600 million in sale

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