Conagra Brands is divesting an Italy-based unit that makes and distributes frozen pasta and other products in the U.S. and Europe.
Conagra is selling its Gelit unit to a consortium of three Italian investment firms. Terms were not disclosed.
Gelit, which makes frozen pasta, ready meals and crepes, had started as a unit of Barilla and was sold in 2012 to Ralcorp, which later became part of Conagra. The divestiture is part of Conagra’s strategy of concentrating on core brands.