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Unilever completes sale of North America frozen meals business

LONDON & ROTTERDAM, Netherlands — Unilever has completed the sale of its North America frozen meals business, conducted under the Bertolli and P.F. Chang’s brand names, to ConAgra Foods Inc., for total cash consideration of $267 million, subject to adjustment.

Under the terms of the transaction, Unilever licensed the Bertolli brand name to ConAgra Foods for use in the frozen meals business and transferred its existing license with P.F. Chang’s for use of the P.F. Chang’s Home Menu brand name. Unilever will retain the Bertolli trademark and continue manufacturing Bertolli pasta sauce at its Owensboro, Ky., facility.

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