Pinnacle Foods Completes Purchase of Wish-Bone
NEW YORK (AP) — Pinnacle Foods said Tuesday it completed its purchase of Unilever PLC's Wish-Bone salad dressings in a deal valued at $575 million.
The deal was announced in August. It gives Pinnacle a range of liquid and dry mix salad dressings that are sold under the names Wish-Bone and Western, which have about $190 million in annual sales. Wish-Bone will become part of Pinnacle's Duncan Hines division.
Pinnacle Foods went public in March. It sells Vlasic pickles, Duncan Hines frosting and cake mixes and Birds Eye frozen foods.
Shares of Pinnacle Foods Inc. lost 2 cents to close at $26.25. The stock has traded between $22.15 and $28.52 since its debut.