CHICAGO, May 6, 2019 /PRNewswire/ -- Today Conagra
Brands, Inc. (NYSE: CAG) announced that it has entered into a
definitive agreement to divest its Italian-based frozen pasta
business, Gelit (headquartered in Doganella di Ninfa, Italy) to an Italian investment company owned
by Consilum SGR S.p.A., Progressio SGR S.p.A., and MMM S.r.l. whose
reference shareholder is Massimo
Menna. 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.
BNP Paribas acted as the sole financial advisor to Conagra
Brands, and Jones Day acted as its
legal advisor.
About Conagra Brands
Conagra Brands, Inc. (NYSE: CAG), headquartered in Chicago,
is one of North America's 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 company's portfolio is evolving to satisfy people's changing
food preferences. Conagra's iconic 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. For more
information, visit www.conagrabrands.com.
For more information, please contact:
MEDIA:
Dan Hare
312-549-5355
Daniel.hare@conagra.com
INVESTORS:
Brian
Kearney
312-549-5002
ir@conagra.com
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SOURCE Conagra Brands, Inc.