Texas-based investment firm Fairmount Food Group has continued its highly acquisitive strategy, picking off ConAgra's speciality cheese business Swissrose International. The acquisition makes Fairmount the US's largest importer and marketer of speciality deli-style cheeses.

This is the fifth industry acquisition by the investment firm and its equity sponsor GTCR Golder Rauner, who most recently acquired Green Bay Cheese Co. in February of this year.

"With this acquisition we are more than doubling the size of our specialty cheese portfolio, expanding our US presence from coast to coast and increasing our ability to more effectively serve our growing foodservice business," said Bing Graffunder, chief executive officer of Fairmount.