WESTHOUGHTON, England -- 3i, a UK-based venture capital firm, has sold Stateside Foods, its frozen pizza company, to Germany's Freiberger, for an undisclosed sum.
According to Just-food.com, Stateside is one of Europe's largest frozen pizza makers. It also manufactures pizza components, such as frozen preformed crusts and dough balls. The business has three plants located in Westhoughton (Bolton), Skelmersdale and Haslingden.
Stateside Foods' annual sales are expected to hit £50 million (U.S. $79.7 million) this year.
Freiberger is a subsidiary of Sudzucker, the German sugar giant. This acquisition will provide the company its first UK manufacturing facility.
Stateside Foods, which employs 750 people, will continue operating under current management.