THAILAND, Bangkok. Thailand’s Charoen Pokphand Foods (CP Foods) has taken over frozen specialist Bellisio Foods with a $1.075 bn. deal. CP Foods’ huge deal to take over Bellisio Foods marks its first acquisition of a US firm.
The transaction brings together one of America’s most dynamic frozen food firms with the might of Thailand’s dominant vertically-integrated meat business .
Bellisio manufactures and dist ributes single-serve frozen entrées under a number of brands, such as Michelina’s, Atkins, Boston Market, Chili’s, EatWell and Eat !. Bellisio also produces a range of private-label and foodservice items. In business for over 25 years, Minneapolis-based Bellisio Foods manufactures more than 400 frozen food items and CP Foods said the well-known brands would enhance its US operation.
CP Foods acquired all outstanding interest in Bellisio from US-based private equity firm Centre Partners. Bruce Pollack, managing partner at the investment firm, described CP Foods as the ideal partner for Bellisio. Bellisio’s management team and wider workforce are expected to retain their jobs.