July 30/New York/Reuters -- Unilever agreed to sell its North American frozen meal business to ConAgra Foods Inc. for $265 million, as the giant consumer-goods company exits the frozen foods business.

The deal includes a license for use of the Bertolli brand name and the transfer of Unilever's license with P.F. Chang's China Bistro for use of the P.F. Chang's Home Menu brand name.

Unilever will keep the Bertolli trademark and the brand's pasta sauce business.