Duluth, MN (NNCNOW.com) - Bellisio Foods, with offices in Duluth, has bought Overhill Farms for $80 million dollars.
The company, is already the country's third largest producer of frozen entrees.
This partnership will add big stores like Safeway, Target, American Airlines, and Jenny Craig to its frozen entrée license.
It will also increase its food service and private label customer base.
Bellisio Foods was founded in Duluth in the late 1980s by Jeno Paulucci and run almost solely by him out of his Canal Park office until he died in 2011.
It was sold shortly after that to a New York private investment group called Centre Partners.
The Duluth office currently employs about 20 people.
"It was really Jeno's idea to grow the business, and if he was alive today this acquisition of Overhill Farms would have been exactly what he would have wanted. So really we are basically just helping that vision Jeno had for the company by purchasing Overhill Farms," said Dan Stojevich Director of Packaging Services.
The company says it will complete the transaction within the next three months.
The acquisition reflects a strong two year partnership between Bellisio and Overhill Farms.
Overhill Farms is based in California, and is a supplier of brand name and private label frozen foods for retail.
Posted to the web by Kati Anderson.