Randolph / MA. (cp) Centerview Partners, together with members of Richelieu management, announced that they have acquired Richelieu Foods Inc., a leading producer of premium private label pizza, salad dressing and other pourable products. Financial terms of the transaction were not disclosed. Richelieu Foods is a 250 million USD food manufacturer that supplies premium private label frozen pizza and pourable products to leading national retailers and foodservice providers. The company has four facilities in the Midwestern United States. Richelieu was previously owned by Brynwood Partners.
Richelieu´s management, including CEO Vincent Fantegrossi, will remain with the Company and they have made a significant equity investment in the business: «I am extremely excited to partner with Centerview in this transaction. Centerview´s team has significant experience in the pizza and pourables categories, and I believe their involvement will help us accelerate the delivery of high-quality products at affordable prices to our retail customers and consumers».
«Frozen pizza, dressings and sauces are categories we know well», said Jim Kilts, Centerview´s co-founder and former CEO of Kraft, 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». David Hooper, also a Centerview co-founder, added «Centerview looks forward to working closely with the entire Richelieu team to build Richelieu for the long term».
About: Richelieu Foods Inc. supplies premium private label frozen pizza to leading national retailers as well as private label and partner brand dressings and sauces to the retail and foodservice channels. Founded in 1862, the company now produces over 50 million pizzas annually and employs approximately 650 people at four facilities in the Midwestern US.