Conagra Brands Completes Sale Of Its Gelit Business

CHICAGO, May 28, 2019 /PRNewswire/ -- Today Conagra Brands, Inc. CAG announced that it has completed the divestiture of Gelit, an Italian-based frozen pasta business headquartered in Doganella di Ninfa, Italy. The original transaction agreement was announced on May 6, 2019.

The business has been divested 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.

Terms of the transaction 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. 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

SOURCE Conagra Brands, Inc.