US private-equity firm Centre Partners has acquired Bellisio Foods, a Minneapolis-based manufacturer of branded and private-label frozen foods.
The agreement was agreement reached with Bellisio founder Jeno Paulucci just one day before his 24 November death according to the Duluth News-Tribune.
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Bellisio, which will keep its current management team, manufactures and distributes frozen meals, sold primarily under the Michelina’s brand, as well as own label. Financial terms of the sale were not disclosed.
Announcing the deal on Friday (16 December), Bellisio CEO Joel Conner said Centre Partners’ “financial support and expertise” will allow the company to accelerate its growth plans for the business.
Bruce Pollack, managing partner of Centre Partners, added: “Bellisio’s well-established brands and highly efficient production and distribution capabilities positions it extremely well for a number of compelling growth initiatives.”
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