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Pinnacle Foods announces 17M-share secondary offering

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Parsippany-based Pinnacle Foods announced Tuesday certain of its stockholders have commenced a secondary offering of 17 million shares of its common stock, pursuant to a registration statement filed with the Securities and Exchange Commission.

According to the announcement, the underwriters will have an option to purchase up to an additional 2.55 million shares from the selling stockholders. The selling stockholders will receive all of the proceeds from this offering. No shares are being sold by Pinnacle. Subject to market conditions, Pinnacle expects the offering to be completed in the fourth quarter of 2013.

Barclays, BofA Merrill Lynch, Deutsche Bank Securities, Credit Suisse, Goldman, Sachs & Co. and Morgan Stanley are acting as joint bookrunning managers for the offering. Piper Jaffray, Macquarie Capital, Stifel, Stephens Inc., BMO Capital Markets, C.L. King & Associates and Janney Montgomery Scott are acting as co-managers for the offering, Pinnacle said in a statement.

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