Private equity investorCenterview Partners , Rye, N.Y., said that it purchasedRichelieu Foods Inc., Randolph, Mass., for undisclosed terms from Brynwood Partners. Centerview said certain Richelieu executives, including CEO Vincent Fantegrossi, also were involved in the purchase. Those executives remain at Richelieu.
Richelieu has annual sales of approximately $250 million and is leading processor of frozen retail private label pizzas. It also processes dressings and sauces for private label retail and foodservice customers. The company has four plants in Beaver Dam, Wis. (pizza); Washington Court House, Ohio (pizza crusts); Grundy Center, Iowa (dressings); and Elk Grove Village, Ill. (dressings).
Centerview's co-founder is Jim Kilts, who's held CEO posts at Kraft, Nabisco and Gillette.
"Frozen pizza, dressings and sauces are categories we know well," Kilts said. "From the time we first learned about Richelieu, it was clear to us that the company's innovative products and great service contributed to private label growth in these categories.
Centerview buys frozen pizza maker Richelieu
November 19, 2010