Thailand: CP Foods acquires Bellisio For $1.1 billion
Thailand’s CP Foods has announced the acquisition of the US-based frozen food producer Bellisio for $1.075 billion. The transaction is expected to close in December 2016.
Bellisio is the third largest manufacturer and distributor of single-serve frozen foods in the US and markets its products under brands such as Atkins, Boston Market, Chili’s, EatingWell and Michelina. Its product line of more than 400 items includes single and multi-serve entrees, snacks, side dishes, and specialty sauces.
CP Foods is one of the largest agricultural and food businesses in Thailand and distributes meats, seafood and poultry products throughout the US, Europe and Asia.
Commenting on the deal, Bellisio Foods chairman and CEO Joel Conner said: "We are excited to be part of CPF and look forward to driving the North American strategy for one of the world's leading food companies. With Bellisio’s expertise, food quality and commitment to bring new, delicious and exciting brands to market, our management and employees are expected to play key roles within CPF".
Source: CP Foods (via BusinessWire)