Funds Advised by Convergent Finance and Samara Capital to Acquire 51.8% in Agro Tech Foods from Conagra Brands

Harsha Raghavan, Managing Partner at Convergent Finance, said, "Agro Tech Foods' category-defining brands have been beloved household names for the past three decades, thanks to the company's relentless focus on quality, innovation, and customer delight. As India's rapidly-growing consumer class expands and discretionary income levels continue to rise, we will expand ATFL's distribution reach and product range, thereby transforming it into the country's leading packaged and snack food platform."

Manish Mehta, Managing Director and Co-Chief Investment Officer at Samara Capital said, "We are delighted to lead the acquisition of a majority stake in ATFL in partnership with Convergent. The company's brands have high recall value with India's consumers, and we aim to complement this hard-earned recognition with our knowledge of India's food and consumer sectors to increase ATFL's presence in fast-growing, high-margin categories. We intend to create a large and unique branded food platform in the country with this acquisition."

About Convergent Finance LLP

Convergent Finance LLP is an investment management and advisory partnership at the forefront of bringing together Ideas, Capital, and passionate Entrepreneurs. The Convergent investment process involves identifying proprietary platform and bolt-on opportunities, speed of execution, and a relentless focus on performance improvement. The Convergent value investing approach believes in paying fair and reasonable valuations through bilaterally negotiated transactions.

About Samara Capital

Founded in 2007, Samara Capital is one of India's leading mid-market private equity firms that invests in emerging partners with entrepreneurs and management teams to help businesses achieve their true potential, thereby creating long term value for all stakeholders. Samara's investment strategy believes that focusing on input metrics and culture-building leads to sustainable and scalable business performance. Consumer and Retail is one of the largest focus areas for the firm. Samara has done multiple platform buildouts to create market leaders in sectors such as Consumer and retail, business services and healthcare.

About Conagra Brands

Conagra Brands, Inc. (NYSE: CAG), headquartered in Chicago, is one of North Americas leading branded food companies. Guided by an entrepreneurial spirit, Conagra Brands combines a rich heritage of making great food with a sharpened focus on innovation. The companys portfolio is evolving to satisfy peoples changing food preferences. Conagras iconic brands, such as ACT II, Birds Eye, Duncan Hines, Healthy Choice, Marie Callenders, Reddi-wip, and Slim Jim, as well as emerging brands, including Angies BOOMCHICKAPOP, Dukes, Earth Balance, Gardein, and Frontera, offer choices for every occasion.

For more information, visit www.conagrabrands.com.