CP Foods enters US market with $1.1 billion deal

Thai giant Charoen Pokphand Foods (CP Foods) is making a foray into the US market with the acquisition of Bellisio Parent for around $1.1 billion (€1 billion).

Bellisio group is the third largest producer and distributor of single-serve frozen entrees in the United States by unit share, with well-known household brands such as, Michelina’s, Boston Market, Chili’s, and Atkins.

The company, which reported net sales of $668 million (€623.4 million) for the 12 months ending September 2016, has "strategic relationships" with leading US retailers with more than 50,000 distribution points, CP Foods said.

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