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Conagra Brands completes sale of Gelit pasta business

Packaged foods company Conagra Brands Inc. on May 28 said that it successfully divested its Italian frozen pasta business Gelit Srl to an Italian investment company owned by Consilum SGR SpA, Progressio SGR SpA and MMM Srl.

The deal, which was announced May 6, included Conagra's entire equity interest in Gelit as part of the transaction.

Financial terms were not disclosed.

BNP Paribas was financial advisor to Conagra Brands on the transaction, while Jones Day acted as its legal adviser.