Thai food giant buys Bellisio for $1.1 billion

Thailand's biggest food company, owned by the kingdom's richest tycoon, has agreed to buy US frozen-food giant Bellisio for nearly $1.1 billion. Charoen Pokphand Foods (CPF) hailed the acquisition of the US firm, which has a slew of popular frozen brands under its banner, as its first "entry into the world's largest food market". The two food titans expect to close the transaction within 180 days, CPF said in a statement released Thursday.