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The frozen-foods group refused to be drawn on the number of staff that could be affected by a move to create “a simpler, more sustainable operating model for the future”.
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The site in Ohio makes products sold in pouch packaging to foodservice customers.
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Businessman Ranjit Singh Boparan has committed £100m ($133.4m) to the project through his private investment vehicle.
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Based in Teramo, Italsur is described as a business with revenues of more than €23m ($25.8m).
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The Food Safety and Standards Authority of India (FSSAI) has issued notices to Nestlé India and Hindustan Unilever.
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Bluegem Capital Partners is investing alongside the Rispo management team, which will hold a minority interest.
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Grespan manufactures and sells frozen bakery products, primarily to customers across Brazil's south-eastern and mid-west regions.
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Under the proposed transaction, Panzani's owner CVC Capital Partners would retain a minority stake in the combined business.
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One of the food industry’s most notable M&A deals of the last 18 months is showing signs of success.
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