US: Diamond raises US$180m in secondary offering
US snack manufacturer Diamond Foods said yesterday (10 March) that it will raise funds of US$181.4m in a secondary offering to finance its acquisition of upmarket crisp maker Kettle Foods.
Diamond announced plans to acquire Kettle for $615m last month.
The company, whose brands include Emeral nuts and PopSecret popcorn, said the underwriters exercised their over allotment option to acquire 675,000 shares, bringing the total shares issued to just under 5.2m.
Barclays Capital, Bank of America Merrill Lynch and BMO Capital Markets acted as joint book-running managers for the offering.
The week saw a raft of quarterly and half-yearly reports from firm's including Heinz, Campbell Soup and Del Monte....
Canadian convenience operator Couche-Tard posted record net earnings for the first quarter of fiscal 2011 this week, up 42% against the same period of the previous year....
PepsiCo this week announced it will have spent $400m between 2008 and 2013 in Vietnam as it looks to increase its manufacturing capacity, introduce new products and "strengthen" its existing brands in...
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