The May 12 announcement brings together two Food Processing Top 100 companies both known for their frozen, refrigerated brands.
Hillshire Brands Co. and Pinnacle Foods Inc. announced on May 12 that Hillshire Brands will acquire all outstanding shares of Pinnacle Foods in a cash and stock transaction. Under the terms of the agreement, each share of Pinnacle Foods common stock will be exchanged for $18 in cash and 0.50 shares of Hillshire Brands common stock.
According to a report, the total value of the transaction is approximately $6.6 billion.
Hillshire Brands was created in 2012 when Sara Lee split to form two publicly-traded companies. The company is known for its Hillshire Farm, Ball Park, Jimmy Dean, and State Fair brands. Pinnacle Foods manufacturers Birds Eye frozen food, Duncan Hines baking mixes and frostings, and Snyder of Berlin snack foods.
Hillshire Brands also recently acquired Van's Natural Foods for $165 million. You can read about it on FoodProcessing.com Hillshire to Acquire Van's Natural Foods
Kaeser is the world’s leading air systems specialist and offers a full range of compressed air solutions for almost any application. From industrial compress...
Take a moment to see the scope of Kaeser's commitment to innovative system designs that guarantee ultra-reliable compressed air, easy maintenance, and greater efficiency.
Ventilation has a huge impact on the ambient temperature in the compressor room and is often the missing link to temperature regulation issues. Here are four factors to consider...
Learn how to get a smart, reliable, energy-efficient compressed air system delivered in a turnkey, weatherproof and temperature-controlled enclosure that needs little or no onsite...
