Conagra exploring alternatives for Italian-based frozen pasta business
Conagra Brands 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 producer of Italian frozen food and ready meals, primarily for private label customers. The business employs approximately 145 full-time employees. Conagra Brands has engaged BNP Paribas to assist with this process. The company added in a statement, "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."