Updated Wed, Dec 7, 2011 12:04 pm
The owner of one of the largest frozen entree producers, with most of its production in Jackson, Ohio, agreed to sell the company just a day before he died in Duluth, Minnesota last month.
Bellisio Foods CEO Joel Connor says the transaction will likely be completed by the end of the year. He declined to name the buyer or the purchase price.
The business was previously on the market for between $500 million and $600 million. Jeno Paulucci, 93, died at his Duluth home on Thanksgiving Day. His wife, Lois, had died just four days before.
Bellisio is the fourth-largest producer of frozen entrees in the nation. The company employs about 1,500 people.
It has several offices in Duluth, but most of its production is in Jackson, Ohio.