<article>Thailand&#8217;s poultry producer <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/46073-46073/" target="_blank">Charoen Pokphand Foods Public Company Ltd </a>(CP Foods) will acquire one of largest producer of single serve frozen entrees in the US, Bellisio Parent LLC for $1.07 billion.</article>

Thailand&#8217;s poultry producer <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/46073-46073/" target="_blank">Charoen Pokphand Foods Public Company Ltd </a>(CP Foods) will acquire one of largest producer of single serve frozen entrees in the US, Bellisio Parent LLC for $1.07 billion.
The acquisition which will help CP Foods spring into the US <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/57394-57394/" target="_blank">food market</a> and become an exporter to global market, is expected to close within the next three moths, subject to customary closing conditions, the company said in a statement issued today.
Bellisio group is the third largest producer and distributor of single serve frozen entrees in the US by unit share, with well-known household brands such as, Michelina’s, Boston Market, Chili’s, and Atkins.
To complement existing brands, Bellisio has also recently introduced the EatingWell and EAT! product lines, focused on balanced food solutions that promote healthy lifestyles. Outside the US, Bellisio is also the leader in the single serve frozen entrees market in Canada with 4 facilities located in Ohio, California and Minnesota.
The announcement added that JP Morgan acted as exclusive financial advisor for the deal while Davis Polk &amp; Wardwell LLP acted as legal counsel, to CP Foods for the transaction.
&#8220;We are extremely excited to be part of the CP Foods family and share their vision of being the ‘Kitchen of the World’. I believe that our partnership with CP Foods will allow us to propel Bellisio through its next phase of growth,” said Bellisio Group Chairman and CEO Joel Conner.
Bellisio group has deep strategic relationships with leading US retailers with over 50,000 distribution points. Through its production facility in Jackson, Ohio, Bellisio is able to distribute its products to more than half of the US within 24 hours and nationwide within 48 hours.
For the last twelve months ending September 2016, Bellisio group generated adjusted net sales of $668 million.
Meanwhile, for the Bangkok-based CP Foods, this is the second acquisition soon after it acquired a majority stake in UK food service supplier Foodfellas, in October. That deal led to the company&#8217;s entry into the food service market in the UK for the first time.
&#8220;This acquisition is in line with CP Foods’ strategic direction to expand into high potential market. After the transaction, CP Foods’ revenue contribution from Food business will rise,” said CP Foods CEO Adirek Sripratak.
He added that through leveraging the combined strengths at CP Foods and Bellisio group, the company&#8217;s can bring greater variety of products particularly Asian food products, to US consumers as well as export our products globally.
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Thailand's poultry producer Charoen Pokphand Foods Public Company Ltd (CP Foods) will acquire one of largest producer of single serve frozen entrees in the US, Bellisio Parent LLC for $1.07 billion.

Thailand: CP Foods enters US with $1.07b buy of frozen food firm Bellisio Parent

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Thailand: CP Foods enters US with $1.07b buy of frozen food firm Bellisio Parent

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