Italian Investment Firm Closes Acquisition of Frozen Pasta Business Gelit from Conagra.
MANews-(C)2009-2019
29 May 2019 - Chicago, US-based food company Conagra Brands, Inc. (NYSE: CAG) has agreed to divest its Italy based frozen pasta business, Gelit, to an Italian investment company owned by Consilum SGR S.p.A., Progressio SGR S.p.A., and MMM S.r.l., the company said.
Gelit employs around 145 people full time and makes Italian frozen food, sauces and ready meals.
The transaction is subject to customary closing conditions and includes the sale of Conagra Brands' entire equity interest in Gelit S.r.l.
Financial terms were not disclosed.
Conagra Brands, Inc.'s portfolio inlcudes brands such as Birds Eye, Marie Callender's, Banquet, Healthy Choice, Slim Jim, Reddi-wip, and Vlasic, as well as emerging brands, including Angie's Boomchickapop, Duke's, Earth Balance, Gardein, and Frontera, offer choices for every occasion.
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