Thailand’s richest man Dhanin Chearavanont is stepping down the aisle with US frozen meals firm Bellisio, entering a hyper-competitive market place.
On Thursday his flagship firm, frozen chicken producer Charoen Pokphand Foods, said it had agreed to buy Minneapolis-based Bellisio for $1.075 billion.
The move marks CP Food’s first step into the US, a market it has coveted for years given its size and technological edge in food manufacturing.
Owning Bellisio will also help CP Foods identify potentially global trends in consumer tastes - such as the shift towards healthier meals.
Adirek Sripratak, CEO of CPF, said in...
¬ Haymarket Media Limited. All rights reserved.
