USA: The Pillsbury Company announces offering of its desserts and specialty products businesses
The Pillsbury Company announced today an offering to sell its Pillsbury and Martha White branded U.S. retail Dessert and Baking Mix business, and its Hungry Jack Potato and Hungry Jack shelf stable breakfast businesses. The sale would include a licensing arrangement for the use of the Pillsbury and Hungry Jack brands.On a combined basis, the businesses contributed over $500 million in sales during Pillsbury's most recent fiscal year, completed in June 2000. The transaction is consistent with the previously announced intention to sell certain assets in conjunction with the completion of the proposed acquisition of Pillsbury by General Mills, and is contingent on that completion.Greenhill & Co., LLC of New York is handling the proposed transaction and all inquires related to it should be directed to them.Pillsbury produces a range of grocery items, frozen foods and refrigerated dough products for international consumer markets, including North America, Europe, Latin America and the Far East. The company's portfolio of leading brands includes Pillsbury, Green Giant, Old El Paso, Haagen-Dazs, Progresso, Hungry Jack and Totino's.Pillsbury is the packaged food division of Diageo (NYSE: DEO), one of the world's leading consumer brand companies. The Diageo group operates in over 200 markets worldwide, and has international sales of $19 billion. The company is listed on the UK (DGE), New York (DEO), and Paris Stock Exchanges.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Wessanen's move for Spain's Biogran - analysis
- The key questions for digital strategists in 2017
- Unilever 2016 investor day - the top takeaways
- Burger King, Jollibee: foodservice focus, Nov 2016
- Whole Foods, Aldi, M&S - retail round-up, Nov 2016
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- Hain Celestial appoints Nestle executive as US COO
- Chobani COO Burns to leave yogurt firm
- Nestle invests in Italian pizza production
- How Brands Are Making Our Food Healthier
- Confectionery North America (NAFTA) Industry Guide_2016
- Processed Snacks (Savory Snacks) Market in the United States - Outlook to 2020: Market Size, Growth and Forecast Analytics
- Global Dried Processed Food Market 2016-2020
- Frozen Food Production in the US - Industry Market Research Report