MINNEAPOLIS — Charoen Pokphand Foods (CPF) has entered into a definitive agreement to acquire Bellisio Foods, Inc. for $1.075 billion. The transaction is expected to close in December.
Bellisio manufactures and distributes single-serve frozen entrees under the Atkins, Boston Market, Chili’s, EatingWell, Eat! and Michelina’s brands, as well as co-manufactures private label and food service products. Bellisio has more than 50,000 distribution points and operates out of four facilities located in Ohio, California and Minnesota. For the 12 months ended Sept. 30, 2016, Bellisio generated adjusted net sales of $668 million and adjusted EBITDA of $82 million.
|Joel Conner, chairman and c.e.o. of Bellisio|
“We are extremely excited to be part of the CPF family and share their vision of being the ‘Kitchen of the World,’” said Joel Conner, chairman and chief executive officer of Bellisio. “I believe that our partnership with CPF will allow us to propel Bellisio through its next phase of growth.”
Bangkok, Thailand-based CPF is a producer of food products with a focus on nutrition. CPF serves more than three billion customers in 18 countries throughout Asia and Europe.
|Adirek Sripratak, c.e.o. of CPF|