08/20/2014 11:37 EDT | Updated 10/20/2014 05:59 EDT

McCain Foods Sells North American Frozen Pizza Business To Dr. Oetker

Red Baron
TORONTO - McCain Foods says 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 U.S. and a two-year licence for the use of the McCain brand in Canada.

The sale includes operations in Grand Falls, N.B., and Lodi, N.J. The company said McCain employees at both locations will be offered employment with Dr. Oetker.

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

The deal is subject to regulatory approval in Canada

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