Conagra Brands strikes deal for US peer Pinnacle Foods
Conagra Brands finally reached a deal this week to acquire Pinnacle Foods, creating a leading player in the US frozen food category with combined sales of US$11bn. Yet the market reaction was less than positive,...
Conagra Brands today (27 June) confirmed it has reached a deal to buy fellow US manufacturer Pinnacle Foods for US$10.9bn.
Major US manufacturers Conagra Brands and Pinnacle Foods have reportedly kick-started discussions over combining their businesses.
Pinnacle Foods has often been touted as a possible acquisition target - and now activist investor Jana Partners has taken a position in the US group that talk will intensify.
Conagra Brands has reportedly ended talks aimed at a possible takeover of US peer Pinnacle Foods after the two sides were said to have failed to agree on the terms of a deal.