FSI Deal Gives Bellisio Hot Slice of Frozen Pizza Market
Bellisio Foods, Inc., part of the Bangkok, Thailand-headquartered Charoen Pokphand Group Foods (CP Foods), has entered into a definitive agreement with Swander Pace Capital to purchase Frozen Specialties, Inc. (FSI), a producer of frozen pizza and Pizza Bites® based in Perrysburg, Ohio. The deal, inked last week, will see the company operate as part of Bellisio’s Overhill Farms unit, a major packer of private label, foodservice and co-manufactured products.
“The acquisition of FSI brings together our vibrant, growing companies who share an expertise in delivering delicious, exciting brands and private label products to retail customers,” said Ken Stickevers, president and chief executive officer at Minneapolis, Minnesota-headquartered Bellisio Foods.
FSI, which is also a contract packer of frozen organic, all-natural and value-priced pizza and pizza snacks, distributes products to major supermarkets and grocery outlets in the United States, Canada, Puerto Rico and the Caribbean. Its factory in Archbold, Ohio, makes gluten-free as well as organic-certified pizza with a variety of toppings. The company, founded in 1969, estimates that it produces just shy of one in 10 frozen pizzas sold in retail stores throughout the USA.
“We’re excited by the innovation and national plant network we can now bring to our private label, co-manufacturing and foodservice customers. The complementary product portfolios and product expertise across our company will benefit our North American and Asian customers,” said Terry O’Brien, president of Vernon, California-based Overhill Farms.
Bellisio Foods and Overhill Farms produce more than 400 products spanning a wide range of frozen food categories, including single and multi-serve entrees, snacks, side dishes, and a broad assortment of foodservice items. Bellisio markets products under the Michelina’s, Boston Market and Authentic Asia brands, as well as under licensed brands EatingWell and Atkins. Overhill Farms has a 33-year history of producing frozen entrées, plated meals, bulk-packed meal components, pastas, soups, sauces, poultry, meat and fish specialties, as well as organic and vegetarian offerings.