Charoen Pokphand Foods Plc (CPF), Thailand's largest food producer, has acquired the third largest maker of single-serve frozen entrees in the US for 38.16 billion baht ($1.07 billion). Bellisio reported a net loss of $14 million on revenue of $588 million for 2015, down from $22 million two years ago. With 100% control of the American company, CPF will use it as platform to enter the world's largest food market and as a gateway to channel its existing products into North America. The company also has eyes on Bellisio's nationwide distribution network and relationship with key retailers to distribute CPF's products. CPF shares fell one baht to 27.75 baht in trade worth 3.2 billion baht on the Stock Exchange of Thailand on Thursday.

Source: Bangkok Post November 17, 2016 12:32 UTC