Private equity firm The Blackstone Group is likely to buy Pinnacle Foods Corporation, the Wall Street Journal reported today (12 February).
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Pinnacle, whose brands include Mrs Butterworth’s, Swanson and Vlasic, is owned by CCMP Capital Advisors, JW Childs Associates and a group of bondholders of the former Aurora Foods.
The deal is valued at about US$1.2bn along with the assumption of about $900m in debt, the paper said, citing people familiar with the situation.
Neither Pinnacle or Blackstone were available for comment at time of press.
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