McCain sells frozen pizza business to Dr. Oetker

McCain Foods said Wednesday it has signed a deal to sell its North American frozen pizza business to Dr. Oetker GmbH.

Financial terms of the deal were not immediately available. The deal covers the Ellio’s brand in the US and a two-year licence for the use of the McCain brand in Canada.

McCain will keep its pizza pockets business in Canada as well as its pizza businesses outside of North America.

The company said pizza represents a small portion of its North American business and the move will allow it to focus on other areas.

“McCain is committed to its employees, and Dr. Oetker’s commitment to their continued employment was an important factor in the decision,” McCain Foods president and chief executive Dirk Van de Put said in a statement.

“The McCain business is a perfect fit for us and furthers our strategic goal of establishing ourselves as leader in the Canadian frozen pizza market and therewith strengthening our position in this market as well as expanding our position in the northeast of the US,” said Richard Oetker, chairman of the executive board of Dr. Oetker.