CHICAGO, Jan. 21, 2019 /PRNewswire/ -- Today Conagra
Brands, Inc. (NYSE: CAG) 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.
About Conagra Brands
Conagra Brands, Inc. (NYSE: CAG), headquartered in Chicago,
is one of North America's leading branded food companies.
Guided by an entrepreneurial spirit, Conagra Brands combines a rich
heritage of making great food with a sharpened focus on innovation.
The company's portfolio is evolving to satisfy people's changing
food preferences. Conagra's iconic brands, such as Birds Eye®,
Marie Callender's®, Banquet®,
Healthy Choice®, Slim Jim®, Reddi-wip®, and Vlasic®, as well as
emerging brands, including Angie's® BOOMCHICKAPOP®, Duke's®, Earth
Balance®, Gardein®, and Frontera®, offer choices for every
occasion. For more information,
visit www.conagrabrands.com.
Note on Forward-looking Statements
This document contains forward-looking statements within the
meaning of the federal securities laws. These forward-looking
statements are based on management's current expectations and are
subject to uncertainty and changes in circumstances. These
forward-looking statements include, among others, expectations
about future business plans, prospective performance and
opportunities. Readers of this document should understand that
these statements are not guarantees of performance or results.
There is no assurance that any potential transaction will be
consummated, and there are a number of risks and uncertainties that
could cause actual results to differ materially from the
forward-looking statements made herein. These risks and
uncertainties include, among other things, risks related to Conagra
Brands' ability to achieve a successful outcome for Gelit,
including a potential sale, and Conagra Brands' ability to
otherwise achieve its business strategies, including the reshaping
of its portfolio and other risks described in Conagra Brands'
reports filed from time to time with the Securities and Exchange
Commission. We caution readers not to place undue reliance on
any forward-looking statements included in this document, which
speak only as of the date of this document. We undertake no
responsibility to update these statements, except as required by
law.
For more information, please
contact:
MEDIA:
Dan
Hare
312-549-5355
Daniel.hare@conagra.com
INVESTORS:
Brian
Kearney
312-549-5002
ir@conagra.com
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SOURCE Conagra Brands