ConAgra to Buy Bertolli, P.F. Chang’s Frozen Brands

OMAHA, Neb. — ConAgra Foods has entered into an agreement to acquire Unilever’s Bertolli and P.F. Chang’s Home Menu frozen meals business for $265 million.

The deal will grow ConAgra's frozen portfolio, including Marie Callender’s, Banquet, Healthy Choice and Kid Cuisine brands, and help the manufacturer expand into adjacent categories, build its private-label business and continue to develop its international presence, according to the ConAgra.

“Bertolli and P.F. Chang’s multi-serve frozen meals are excellent additions to our portfolio,” said Gary Rodkin, chief executive officer of ConAgra Foods, in a statement. “Just as our acquisition earlier this year of Odom’s Tennessee Pride extended our reach into frozen breakfast, the addition of Bertolli and P.F. Chang’s brands can bring us new consumers and new eating occasions.”

This will be the fifth acquisition for ConAgra in the last 12 months, following its purchase of the National Pretzel Co., Del Monte Canada, Odom’s Tennessee Pride and the pita chip business of Kangaroo Brands.