ConAgra Foods completes purchase of Bertolli and P.F. Chang’s Frozen Food Lines

Quarters - BSN

(Best Syndication News) - ConAgra Foods, Inc., (NYSE: CAG) announced the completion of their purchase of Bertolli® and P.F. Chang’s® Home Menu frozen meals business lines from Unilever PLC. The acquisition for completion would be $267 million total cash for consideration, which is subject to fine-tuning. The intention to buy the two frozen food brands was first announced on July 30, 2012.

In the agreement, ConAgra has gained control of the two frozen food businesses. There is a license for the use of the Bertolli brand name. The P.F. Chang's license was a transfer from Unilever’s existing agreement.

ConAgra also controls the Marie Callender’s®, Banquet®, Healthy Choice® and Kid Cuisine® brands.

ConAgra Foods, Inc., (NYSE: CAG) shares closed today at $24.77 per share, which was up $0.04 (+0.16%).

Unilever PLC (Public, LON:ULVR) shares closed at $2,275.86, which was up $8.86 (+0.39%).

By: Dave Reddy

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