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November 17, 2016

Charoen Pokphand Foods acquires US frozen entree maker Bellisio 

Thailand's Charoen Pokphand Foods is acquiring Bellisio Parent, the US's third-largest single-serve frozen entree maker, from private-equity group Centre Partners for US$1.08bn. 

Thailand’s Charoen Pokphand Foods is acquiring Bellisio Parent, the US’s third-largest single-serve frozen entree maker, from private-equity group Centre Partners for US$1.08bn. 

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What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
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Adirek Sripratak, CEO of CP Foods, said the deal marks the group’s “first step of our entry into the world’s largest food market” and added he sees “significant growth and synergy opportunities” in the US. 

Bellisio manufactures brands including Michelina’s, Boston Market, Chili’s and Atkins. The company is also growing its better-for-you business under newly established brands EatingWell and Eat! The group has over 50,000 distribution points and “deep” strategic relationships with US retailers, CP Foods said. 

CP Foods noted Bellisio is also the “leader” in the single-serve frozen entree market in Canada.

In the 12 months to the end of September, Bellisio generated adjusted net sales of US$668m and adjusted EBITDA of US$82m.

The deal includes Bellisio’s four production sites in Ohio, California and Minnesota. The company’s production network means it can distribute products to anywhere in the US within 48 hours. 

“We believe that through leveraging our combined strengths at CP Foods and Bellisio group, we can bring greater variety of products particularly Asian food products, to US consumers as well as export our products globally. This acquisition is in line with CP Foods’ strategic direction to expand into high potential market,”  Sripratak commented. 

Joel Conner, chairman and CEO of Bellisio, added CP Foods’ ownership will “allow us to propel Bellisio through its next phase of growth”.

The transaction, subject to customary closing conditions and regulatory approvals, is expected to close within 180 days.

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Free Report
img

What’s the forecast for the food and grocery industry?

The food and grocery sector thrived during the pandemic, largely due to the shutdown of the food service industry and the sector’s subsequent necessity, panic-induced bulk purchasing, and spending more time at home. The market has grown as a result of inflation. Consumer unwillingness to go out and socialize, and the reopening of several hospitality facilities, helped maintain the demand for groceries, particularly online, in 2021. As consumer behavior changes, we consume more food and drink at home, and inflation increases basket sizes. GlobalData predicts that the sector will continue to hold a higher share than had been predicted prior to the pandemic. This is true despite the fact that the food and grocery sector's share of overall retail will decline from its peak in 2020. This report will discuss market forecasts and key themes in the global food & grocery industry in 2022 and beyond. It covers:
  • Market drivers and inhibitors
  • Five-year forecasts and the impact of COVID-19
  • The performance of the online channel versus offline
  • Major trends in the market including rapid delivery, ambient retailing, supply chain disruption, and inflation
Assess developments within this sector to help your business thrive in 2022 and beyond.
by GlobalData
Enter your details here to receive your free Report.

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