A middle market private equity investor,Centre Partners , said it joined management and purchasedBellisio Foods, Inc.Terms were not disclosed.
Officials describe Bellisio as one of North America's largest processor and distributors of frozen single-serve entrees and meals, sold primarily under the Michelina's® brand. The company also produces private label frozen products for a number of the nation's largest retailers; and provides co-packing services to leading consumer packaged goods customers.
"We are extremely pleased to be partnering with Centre Partners," said Bellisio Chief Executive Officer Joel Conner. "Their financial support and expertise will enable us to accelerate our growth plans for the business while allowing us to maintain our focus on providing the highest quality product while being the low-cost operator. This transaction is a clear endorsement of the strength of our dedicated management team and the strength of our market position."
Bruce Pollack is Centre Partners' managing partner.
"We are equally excited to partner with Joel Conner and the company's first-class management team," he said. "Bellisio's well-established brands and highly efficient production and distribution capabilities positions it extremely well for a number of compelling growth initiatives. We look forward to supporting Joel and his team as they expand Bellisio's market-leading positions in both the U.S. and Canada."
Bellisio says it produces more than 200 different frozen entrees and snacks, sold under the Michelina's® and Boston Market® brands, and also sold as private label and co-packed products for leading retailers and consumer packaged goods companies.
Equity firm buys frozen foods giant Bellisio Foods
December 21, 2011