This acquisition builds on last year's purchase of Liebig, the leading wet soup in France and the 1996 acquisition of Erasco, Germany's leading wet soup. Terms of the purchase, which is contingent on regulatory approval, were not disclosed. Stockpot sells approximately half the soup in this segment. From its production plant in Washington State, Stockpot sells more than 50 soup varieties in the U.S. Stockpot also distributes its soups in more than 20 countries including Japan, Australia and New Zealand. Stockpot enhances our ability to grow our soup business in the U.S. by markedly improving our foodservice business by adding the leading soup brand in this new premium segment.
Stockpot also provides a distinctive platform for international growth.
We are excited about the opportunities to use Stockpot as another launching pad for creative market offerings that will expand soup-eating occasions. Fortun Foods was founded in 1981 by Kevin Fortun, who now runs the business with his two brothers, Mike and Steve. First he consulted with restaurant chefs. The result was embraced by restaurants and other foodservice outlets and established the premium refrigerated soup segment. Two years ago, Stockpot also introduced a line of premium refrigerated soups in the retail sector using an innovative new stand-up pouch technology.