Facebook Twitter LinkedIn Google Plus RSS
Retail

Pinnacle closes $575M Wish-Bone acquisition from Unilever

By ,
Pinnacle CEO Bob Gamgort, center, with the company's leadership, rings the opening bell to celebrate the company's IPO.
Pinnacle CEO Bob Gamgort, center, with the company's leadership, rings the opening bell to celebrate the company's IPO. - ()

Parsippany-based Pinnacle Foods announced Tuesday it has completed its acquisition of the Wish-Bone brand from Unilever PLC in a $575 million cash transaction. The deal is subject to a customary post-closing inventory adjustment.

According to the announcement, the acquisition was funded through a combination of cash on hand and new debt. The new debt consists of a $525 million term loan, due 2020. In making the announcement, Pinnacle reaffirmed its outlook for Wish-Bone to be $0.01-$0.02 accretive to EPS in the fourth quarter of fiscal 2013. In addition, Pinnacle also reaffirmed its consolidated EPS outlook for the full year of $1.53-$1.57.

The company first announced the acquisition in August.

More Pinnacle news >

More From This Industry

• Bob's Discount Furniture to open first store at Greenleaf in Union • House of Wine & Liquor adds location in Woodbridge • Spirit Halloween to hire 30,000 employees this season • Levin adds pet supply retailer to Warren Plaza

Write to the Editorial Department at editorial@njbiz.com

Related Stories

• Pinnacle announces pricing for 17M-share secondary offering• ADMA Biologics prices IPO• Sterling Consolidated secures $2.45M senior bank debt• B&G Foods acquires Rickland Orchards for $57.5M• Burlington Stores Inc. closes $260M IPO• Cooper and MD Anderson Cancer Center to open $100M facility• NAI Hanson exclusive agent for 382,000 square feet in Jersey City• Investors Bancorp and Roma Financial extend merger deadline• Applied Communication Sciences gets cellular contract with Army• JAG Physical Therapy renews partnership with Red Bulls• First Bank opens Somerset branch• Business groups gear up for fight on paid sick leave in Trenton• Supreme Court sides with builders, housing advocates in COAH ruling• In chamber speech, Booker says U.S. tax code must be 'fairer and more predictable'• Hurel hopes grant program spurs innovation of its cell-based technology

Leave a Comment

test

Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
View Comment Policy

Comments

Also on NJBIZ.com
Santander appoints regional head of middle market for N.Y., N.J. Santander appoints regional head of middle market for N.Y., N.J.
Chubb names North American house counsel manager Chubb names North American house counsel manager
Weichert Commercial Brokerage announces new VP Weichert Commercial Brokerage announces new VP
close
NJBIZ.com
Latest News NJBIZ in Print Subscribe to Print Subscribe to Email Newsletters Special Editions Lists Events Blogs
Advertising With NJBIZ
Media Kit Advertise in Print Advertise Online Event Sponsorships Production Info
Customer Service
Contact NJBIZ Help & FAQ About NJBIZ NJBIZ Staff Directions Terms and Conditions Privacy Policy
Resources
Archive Search Business Lists
Services
Employee Engagement Surveys
Listrak
BridgeTower Media

© 2017 BridgeTower Media. All information on this site is copyrighted by BridgeTower Media. All images are the sole property of BridgeTower Media and no rights are granted for any use without the express written consent of BridgeTower Media.