Bob Evans opts against selling packaged foods division

Bob Evans opts against selling packaged foods division

Consultant recommends $35 million in potential cost savings

Bob Evans Farms Inc. has opted against spinning off its packaged foods division “at this time,” saying Tuesday that such a sale would not yield enough of a return to benefit shareholders.

The company is also finding other areas to cut costs. Bob Evans has hired J.P. Morgan to analyze potential real estate transactions and the company’s capital structure. Additionally, Deloitte has recommended $35 million in potential cost savings through reduced general and administrative, or G&

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