Cherry Hill, N.J.-based Pinnacle Foods Corp has finalised a deal to buy out the frozen-foods unit of Torrance, California-based King’s Hawaiian Enterprises Inc for an undisclosed amount.
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The frozen-bowl business, which turns over US$350m-a-year, will add to the Swanson brand frozen meals Pinnacle picked up earlier this year from Vlasic Foods International.
Family-controlled King’s Hawaiian revealed that the sale would enable the company to streamline its operations and focus on its bread products, providing the funds to build a large new bakery.
