Minneapolis, Minn.-based Bellisio Foods is acquiring Overhill Farms for approximately $81 million in an effort to expand the company’s reach in the frozen entrée business, reports the Minneapolis-Star Tribune. The acquisition is expected to close this summer. Bellisio produces the Michelina’s line of frozen entrees, and both companies have produced and distributed frozen meals under the Boston Market brand through a licensing agreement.
The deal “is a major part of our growth strategy,” said Jeff Tuttle, Bellisio’s senior vice president of new business ventures. “It brings a nice brand to us under the Boston Market license.”