Conagra Brands, the US-centric food manufacturer, has offloaded Italy-based frozen pasta supplier Gelit to a consortium of local investors.
The deal, outlined yesterday (6 May) for an undisclosed sum, follows an announcement from Conagra in January it was considering the options for the business.
Conagra said yesterday it had sold Gelit, which is headquartered in Doganella di Ninfa, south of Rome, to an Italian investment company owned by Consilum SGR, Progressio SGR and MMM, which has as its reference shareholder Massimo Menna.
On the Gelit website, the company says “partners of leading brands of both domestic and international, under [their] own brands and private brands”.
Conagra, which does not disclose sales figures for Gelit, said in January the business was “a leading producer of authentic Italian frozen food and ready meals, primarily for private label customers”, supplying products “to a broad range of international customers”.