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Conagra: To Explore Strategic Alternatives For Gelit

Chicago / IL. (cag) Conagra Brands Inc. announced that it is exploring strategic alternatives for its Italian-based frozen pasta business, Gelit, which is headquartered in Doganella di Ninfa, Italy. Gelit is a leading producer of authentic Italian frozen food and ready meals, primarily for private label customers. The business employs approximately 145 full-time employees, operates a stand-alone, state-of-the-art facility located in Doganella di Ninfa, and supplies products to a broad range of international customers.

Conagra Brands has engaged BNP Paribas to assist with this process. Conagra Brands has not set a timetable for the strategic process nor has it made any decisions relating to any strategic alternatives at this time, and no assurance can be given as to the outcome of the process. Conagra Brands does not intend to disclose additional details unless and until further disclosure is appropriate or necessary.