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    Breaking News

    Hillshire Brands to Acquire Pinnacle Foods for $6.6 Billion

    Transaction unites two complementary companies with iconic brands.

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    • Hillshire Brands Withdraws Recommendation of Pending Merger With Pinnacle Foods
    05.13.14
    The Hillshire Brands Company, Chicago, IL, and Pinnacle Foods Inc., Parsippany, NJ, have entered an agreement under which Hillshire Brands will acquire all outstanding shares of Pinnacle Foods in a cash and stock transaction. The total enterprise value of the transaction is approximately $6.6 billion.

    The transaction brings together two complementary businesses with leading, iconic brands to create a diversified food company with estimated pro forma 2014 sales of $6.6 billion. On a combined basis, the companies will have leading positions in key frozen, refrigerated and center of store grocery categories.

    “The acquisition creates a leading branded food company with enhanced scale, reach and capabilities while providing margin expansion and strong EPS accretion,” said Sean Connolly, president and CEO of Hillshire Brands. “The new Hillshire Brands will have a strengthened position in frozen foods, new opportunities in the center store for our brands and in refrigerated for Pinnacle Foods’ brands.  We believe our increased scale combined with a more diversified portfolio will deliver strong, consistent cash flows. This will enable us to continue to invest in our brands, enhance our portfolio, pursue value accretive M&A and deliver significant long-term value to our shareholders.”
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    • Breaking News | Functional Foods & Beverages | Mergers & Acquisitions

      Conagra Foods Acquires Frontera Foods, Inc. and Red Fork LLC

      The acquisition includes Frontera, Red Fork and Salpica brands.
      09.29.16

    • Breaking News | Industry & Market News | Mergers & Acquisitions

      ConAgra Foods To Sell Ingredients Business

      Packaged food company looks to continue investing in its product portfolio.
      06.10.16

    • Breaking News | Functional Foods & Beverages | Mergers & Acquisitions | Natural/Organic

      Pinnacle Foods to Acquire Boulder Brands

      Transaction valued at approximately $975 million.
      11.24.15


    • Breaking News | Mergers & Acquisitions

      Tyson Foods and Hillshire Brands Enter Merger Agreement

      Transaction valued at approximately $8.55 billion.
      07.09.14

    • Breaking News | Mergers & Acquisitions

      Hillshire Brands Withdraws Recommendation of Pending Merger With Pinnacle Foods

      Move comes amid proposal from Tyson Foods to acquire Hillshire Brands.
      06.20.14

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