Conagra Brands, a company that engages in the manufacture and sale of processed and packaged foods, this week announced it is exploring strategic alternatives for its frozen pasta business Gelit.
Conagra acquired Gelit back in 2012, as part of the deal to buy private label food manufacturer Ralcorp. The latter had just purchased the Italian-based company only a few months before.
Gelit has 145 full-time employees and activates as a standalone unit which operates in Doganella di Ninfa, Italy. Conagra noted it has brought BNP Paribas on board to assist with the strategic process. Additional details were not disclosed at this time.
Conagra, which already has a solid frozen food portfolio, also bought Pinnacle Foods last June for USD1.9bn, thus significantly expanding its frozen food and snack lineup.
