ConAgra Foods, Inc., (NYSE: CAG) announced that it has completed its acquisition of the Bertolli® and P.F. Chang’s® Home Menu frozen meals businesses from Unilever PLC, for total cash consideration of $267 million, subject to adjustment. The company announced the acquisition agreement on July 30, 2012.
The acquisition includes the frozen meals businesses, a license for use of the Bertolli brand name and the transfer of Unilever’s existing license with P.F. Chang’s for use of the P.F. Chang’s Home Menu brand name.
The addition of Bertolli and P.F. Chang’s Home Menu frozen meals expands ConAgra Foods’ presence in the freezer case, which includes brands such as Marie Callender’s®, Banquet®, Healthy Choice® and Kid Cuisine®.