On July 30, 2012, Unilever announced that it has signed a definitive agreement for the sale of its North American frozen meals business to ConAgra Foods, Inc. for a total cash consideration of $265 million. Cravath represented Unilever in connection with this transaction. Unilever’s North American frozen meals business consists of a full range of premium, multi-serve frozen entrees and appetizers under the well-known Bertolli and P.F. Chang’s brand names. The transaction is subject to regulatory review and expected to close in the third quarter of 2012.
The Cravath team included partners Mark I. Greene and Peter S. Wilson and associates Kenneth S. Gerold and Isaac C. Beerman on corporate matters; partner Michael L. Schler and associates Joanne J. Lee and Edward A. McGehee on tax matters; associate Matthew Cantor on executive compensation and benefits matters; and senior attorney Annmarie M. Terraciano on environmental matters. Summer associates Paul Sandler and Michael Arnold also worked on corporate and tax matters, respectively.