Conagra has recently announced it has entered into a definitive agreement to unload its Italian-based frozen pasta business, Gelit. The Italian investment company owned by Consilum SGR S.p.A., Progressio SGR S.p.A., and MMM S.r.l. whose reference is Massimo Menna has agreed to buy the pasta making company.
The transaction is said to be subject to customary closing conditions and includes the sale of Conagra Brands’ entire equity interest in Gelit. The exact terms of the deal were not disclosed.
Earlier this year, it was revealed that Conagra was exploring strategic alternatives for Gelit. The frozen pasta unit is headquartered in Doganella di Ninfa, Italy and produces frozen-to-heat meals, frozen pasta entrees, and gnocchi, as well as pancakes for restaurants and private label. The company was founded in 1978 and is a prior subsidiary of Barilla G. e R. Fratelli S.p.A. As of 2012, the company became a part of Ralcorp (now under the Conagra Foods group umbrella).