Pro-Fac Cooperative, the US fruit and veg co-op, has received around US$238m from the sale of Birds Eye Foods, which was completed just before Christmas.
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The co-op, which held a controlling stake in the US frozen food group, said on New Year’s Eve that it would hand out a dividend of $0.20 per share.
The dividend will be payable on 1 February to shareholders of record of Pro-Fac’s Class A cumulative preferred stock at the close of business on 15 January.
The sale of Birds Eye Foods to private-equity owned Pinnacle Foods Group was sealed on 23 December for $1.3bn.
Birds Eye Foods, which generates over $930m in sales from brands like Birds Eye
Steamfresh, Comstock and Wilderness, was owned by a holding company controlled by Vestar Capital Partners, Pro-Fac and Birds Eye Foods management.
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