Unilever completes sale of Frozen Meals Portfolio
Unilever today announced that it has completed the sale of its North America frozen meals business.
London & Rotterdam (August 20, 2012) –Unilever today announced that it has completed the sale of its North America frozen meals business, conducted under the Bertolli and P.F. Chang’s brand names, to ConAgra Foods, Inc., for total cash consideration of $267 million, subject to adjustment.
Under the terms of the transaction, Unilever licensed the Bertolli brand name to ConAgra Foods for use in the frozen meals business and transferred its existing license with P.F. Chang’s for use of the P.F. Chang’s Home Menu brand name. Unilever will retain the Bertolli trademark and continue manufacturing Bertolli pasta sauce at its Owensboro, Ky., facility.
About ConAgra Foods, Inc.:
ConAgra Foods, Inc., (NYSE: CAG), is one of North America's leading food companies, with brands in 97 percent of America’s households. Consumers find Banquet, Chef Boyardee, Egg Beaters, Hebrew National, Hunt’s, Marie Callender’s, Orville Redenbacher’s, PAM, Peter Pan, Reddi-wip, Slim Jim, Snack Pack and many other ConAgra Foods brands in grocery, convenience, mass merchandise and club stores. ConAgra Foods also has a strong business-to-business presence, supplying frozen potato and sweet potato products as well as other vegetable, spice and grain products to a variety of well-known restaurants, foodservice operators and commercial customers. For more information, please visit us at www.conagrafoods.com
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