CPF takes giant stride into US market 

The transaction, subject to customary closing conditions and regulatory approvals, is expected to close within 180 days.
CPF chief executive officer Adirek Sripratak said this transaction marked the first step of the company’s entry to the world’s largest food market, where it sees significant growth and synergy opportunities.
“We believe that through leveraging our combined strengths at CPF and Bellisio group, we can bring greater variety of products, particularly Asian food products, to US consumers as well as export our products globally,” he said. 
“This acquisition is in line with CPF’s strategic direction to expand into high-potential markets. After the transaction, CPF’s revenue contribution from food business will rise.”
Joel Conner, chairman and CEO of Bellisio group, said: “We are deeply grateful to Centre Partners for their support and guidance since partnering with us five years ago. At the same time, we are also extremely excited to be part of the CPF family and share their vision of being the ‘Kitchen of the World’. 
“I believe that our partnership with CPF will allow us to propel Bellisio through its next phase of growth.”
Centre Partners Management was the group’s private-equity owner.
Established in 1990, Bellisio group is the third-largest producer and distributor of single-serve frozen entrees in the United States by unit share, with well-known household brands such as Michelina’s, Boston Market, Chili’s and Atkins. 
To complement existing brands, the company has also recently introduced the EatingWell and EAT! product lines, which it says are focused on balanced food solutions that promote healthy lifestyles. 
Outside the United States, Bellisio group is also the leader in the Canadian market for single-serve frozen entrees. 
The group has four facilities in the states of Ohio, California and Minnesota.
Bellisio group says it has deep strategic relationships with leading US retailers with more than 50,000 distribution points. Through its production facility in Jackson, Ohio, Bellisio is able to distribute its products to more than half of the United States within 24 hours and nationwide within 48 hours. 
In the 12 months ending in September, Bellisio group generated adjusted net sales of $668 million and adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) of $82 million.
JPMorgan acted as exclusive financial adviser, and Davis Polk & Wardwell as legal counsel, to CPF for the transaction.