ConAgra Buys Bertolli, P.F. Chang’s Frozen Brands
OMAHA, Neb. (AP) — ConAgra Foods is adding the Bertolli and P.F. Chang's brands to its line of frozen foods that already includes Healthy Choice, Banquet and Marie Callender's products.
ConAgra said Monday that it agreed to buy the Italian and Asian food brands from Unilever for $265 million.
Unilever officials say they are selling these brands because the company is getting out of the frozen food business.
The deal includes some manufacturing equipment that will be moved to an existing ConAgra plant.
ConAgra CEO Gary Rodkin says the brands will help the company expand its customer base. This will be the fifth acquisition in the last year for ConAgra.
ConAgra says this deal won't affect its outlook for 2013.