Frozen food is heating up. Nielsen estimates annual U.S. sales of frozen food at $53 billion. Nestle SA, the largest food and beverage company in the world, is the top seller of frozen food in the U.S. with brands including Stouffer’s, Lean Cuisine and DiGiorno. Frozen food, however, is considered relatively resistant to Amazon’s push to get shoppers to buy more groceries online because they’re tricky to deliver. With frozen food an unlikely source of growth, there could be mergers-and-acquisitions activity, according to Pinnacle CEO Mark Clouse.

Source: thestar May 11, 2018 20:03 UTC