Charoen Pokphand Foods (CPF), based in Bangkok, announced plans to acquire Minneapolis-based Bellisio Foods, Inc. from Centre Partners, New York, for $1.075 billion. The transaction, expected to close in December, paves the way for Bellisio to continue its success in partnering with strong customers and delivering innovative brands.
Bellisio, a manufacturer and distributor of single-serve frozen entrées, will become an integral part of the CPF vision to be the “Kitchen of the World.” CPF serves more than 3 billion customers in 18 countries throughout Asia and Europe.
“We have had a productive, collaborative partnership with Centre Partners over the past five years,” says Joel Conner, chairman and CEO of Bellisio Foods. “We have also built an extremely talented team at Bellisio, many of whom are co-owners of the company. They have executed our strategy superbly, delivering remarkable results.”
Bellisio markets products under the Atkins, Boston Market, Chili’s, EatingWell, Eat! and Michelina’s brands through strong partnerships with leading grocery retailers nationwide. The company also co-manufactures private label and foodservice products and operates production facilities in Ohio, Minnesota and California.
“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,” says Conner. “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.”