Conagra Brands sold Gelit to Consilum SGR, Progressio SGR and Massimo Menna for €70m.

Synopsis

Conagra Brands, an American packaged foods company, sold Gelit, its Italian-based frozen pasta business, to a consortium consisting of Consilum SGR, Progressio SGR and Massimo Menna. Financial terms were not disclosed, however the purchase price is rumoured to be approximately €70m ($78m).

Principals

target

Gelit Holding

bidder

Progressio Sgr

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Market Context

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Bidder Team (2)

filippo gaggini

Managing Partner at PROGRESSIO SGR SPA

Investor

bidder

Deals

£ 59 M

Total Value

stefano iamoni

Chairman and CEO at CONSILIUM SGR

Investor

bidder

Deals

£ 59 M

Total Value

Vendor Team (1)

sean connolly

CEO at CONAGRA BRANDS INC

Manager

vendor

Deals

£ 8.18 B

Total Value

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