Richelieu Foods Acquired by Centerview Partners

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November 30, 2010

Centerview Partners has acquired Randolph, Mass.-based 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 food manufacturer with four facilities in the Midwestern United States, previously owned by Brynwood Partners.

Richelieu's management, including CEO Vincent Fantegrossi, will remain with the company and have made a significant equity investment in the business, according to a statement.

"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," Fantegrossi said.

"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."

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