GBfoods completed the acquisition of Continental Foods from CVC for $1bn.

GBfoods, a food company headquartered in Spain, completed the acquisition of Continental Foods, a producer of packaged food products which includes soups and sauces, from CVC for $1bn. “This acquisition represents a major strategic milestone in the history of GBfoods. GBfoods and Continental Foods will together make a significantly more robust and diversified business platform fully focused on developing strong local brands," Ignasi Ricou, GBfoods CEO.