Mannheim, 2 November 2017
Südzucker subsidiary Freiberger acquires Richelieu Foods, a USA-based pizza producer
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Freiberger USA Inc., Morris Plains, a 100 %-owned subsidiary of Südzucker Group, has entered into a definitive agreement to acquire Richelieu Foods Inc., Braintree/Massachusetts, the largest producer of private label frozen pizza and deli pizza for food retailing in the USA, from Centerview Capital. The enterprise value is USD 435 million.
Richelieu produces private label frozen pizza and deli pizza as well as sauces and dressings for retail grocery and foodservice customers across the USA. The company has nearly 900 employees across its locations. Richelieu competes in the world’s largest pizza market, which continues to exhibit solid growth. In its 2016 fiscal year, Richelieu generated revenues of USD 325 million. The acquisition is subject to approval by the USA antitrust authorities and is expected to close by year end.