Charoen Pokphand Foods Public Co. Ltd. has agreed to buy Bellisio Foods from Centre Partners Management LLC for $1.075 billion. The acquisition allows Charoen to grow its U.S. frozen food presence.
Bellisio, founded in 1990 and located in Minneapolis, produces frozen snacks, sauces and side dishes under the Michelina’s and Eat Brands. The company also licenses frozen food lines for Atkins, Boston Market and Chili’s. Bellisio has $668 million in annual net sales and an adjusted Ebitda of $82 million. Centre Partners purchased the target in 2011.