(Bloomberg) Conagra Brands Inc. is in talks to sell its Hebrew National hot dog business to JBS SA or potentially another bidder, according to people familiar with the matter.The price tag on the sale would likely be close to $800 million, according to the people, who asked not to be identified because the talks are private. A sale could also include Egg Beaters, which makes liquid egg-white products, and Odom’s Tennessee Pride, which sells fresh sausage and breakfast sandwiches. Timing for a deal, if one materializes, remains unclear, the people said.The brands had $575 million in sales in the 52 weeks ended Feb. 21, according to IRI data compiled by Bloomberg Intelligence. Conagra shares rose 1.4% to $36.53 at 2:08 p.m. on Wednesday. JBS shares fell 2.3% in Sao Paulo trading to 27.02 reais. For JBS, the deal would push the world’s biggest meat company further into higher-margin packaged-foods and help to balance returns amid volatile swings in commodity meat markets.
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