Conagra Brands Mulls Alternatives For Italian Frozen Pasta Business Gelit

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( - Branded food company Conagra Brands, Inc. ( CAG ) announced Monday that it is exploring strategic alternatives for its Italian-based frozen pasta business, Gelit.

Doganella di Ninfa, Italy -based Gelit produces 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, and supplies products to a broad range of international customers.

Conagra Brands said it has engaged BNP Paribas to assist with this process. The company has not set a timetable for the strategic process and it has not made any decisions relating to any strategic alternatives at this time. It also said that 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.

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