VEVEY, Switzerland Nestle can tell customers "mangia!," as it completed its acquisition of Kraft Foods' frozen pizza business.
Nestle agreed to acquire the business in the United States and Canada for $3.7 billion in cash in January. Nestle said it will now begin integrating Kraft's 2,620 pizza business employees into its company.
When the deal announced, Paul Bulcke, CEO of Nestle, said: "This frozen pizza business greatly enhances Nestle's frozen food activities in North America, bringing together a selection of great U.S. and Canadian brands, industry-leading R&D and excellent route-to-market capabilities, which complement our existing ice cream direct-store-delivery. With total sales of around CHF 3 billion, Nestle will become the world leader in the attractive, fast-growing frozen pizza category."