USA: JP Morgan buys Pinnacle Foods
Texas-based private equity firm Hicks Muse has agreed to sell Pinnacle Foods Corp to J P Morgan Partners, the private equity unit of J.P. Morgan Chase & Co, in a deal worth US$485m. J P Morgan, which already owned an 8% stake in Pinnacle, said it intends to use the company as a platform for future acquisitions, reported the Asian Wall Street Journal.
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