US and THAILAND - Charoen Pokphand Foods (CPF) has announced the successful completion of the acquisition of Bellisio Foods Inc. from Centre Partners Management.
CPF has acquired all of the outstanding interests in Bellisio from Centre Partners for a total consideration of $1,075 million.
The transaction brings together one of America's largest and fastest-growing frozen food companies with Thailand's leading and most successful integrated foods business.
Bellisio manufactures and distributes single-serve frozen entrees under the Michelina's, Atkins, Boston Market, Chili's, EatingWell, and Eat! brands, as well as co-manufactures private label and food service products.
"We are extremely excited about this partnership with CPF and the potential it has to drive a next phase of significant growth for Bellisio," said Joel Conner, chairman and CEO of Bellisio.
"CPF is a company with whom we share the same values and commitment to quality and innovation."
"This transaction represents a breakthrough for CPF into the world's largest food market and is a significant milestone in our journey towards becoming the 'kitchen of the world'," said Adirek Sripratak, CEO of CPF.
"Through the partnership, we will gain access to the North American market, enabling us to create an enhanced offering for US consumers as well as generate greater value for shareholders."
ThePigSite News Desk
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