US pizza manufacturer Richelieu Foods has been acquired by private-equity company Centerview Partners and members of Richelieu’s management.
The manufacturer of private-label frozen pizza, salad dressing and other pourable products was previously owned by private-equity firm Brynwood Partners, which bought the business in 2005.
Richelieu’s management, including CEO Vincent Fantegrossi, will remain with the company and they have made a “significant equity investment” in the business, a statement issued late last week read.
“Frozen pizza, dressings and sauces are categories we know well,” said Jim Kilts, Centerview’s co-founder and former CEO of Kraft USA, Nabisco and Gillette. “From the time we first learned about Richelieu, it was clear to us that the company’s innovative products and great service contributed to private label’s growth in these categories.”
The value of the deal was not disclosed.