FDBusiness.com

Conagra Brands, one of North America’s leading branded food companies, has agreed to divest its Italian-based frozen pasta business, Gelit, which is headquartered in Doganella di Ninfa, to an Italian investment company owned by Consilum, Progressio and MMM, whose reference shareholder is Massimo Menna.

The transaction is subject to customary closing conditions and includes the sale of Conagra Brands’ entire equity interest in Gelit. Financial terms were not disclosed.