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In 2007, Pinnacle Foods was acquired by the Blackstone Group, a New York City-based private equity firm. [3] In 2013, Pinnacle Foods' Parsippany office was named Inc. Magazine's "World's Coolest Office." [4] That year, Pinnacle Foods had its IPO on the New York Stock Exchange, raising approximately $580 million for its owners, the private ...
Pinnacle Foods' market share gains from its well-planned buyouts. Its cost-saving efforts are also yielding well. However, rising costs and sluggish Specialty segment remain woes.
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On June 30, 2014, it was announced that Pinnacle Foods had scrapped its sale to Hillshire Brands, which would allow Hillshire to be acquired by Tyson Foods.Pinnacle would receive a $163 million payment as part of the breakup from Hillshire, and Pinnacle would also receive an expected $25 million in one-time costs connected to the nixed sale.
Celeste frozen pizza was one of the top selling brands in the 1970s (with Mrs. Lizio, "Mama Celeste," prominently featured in the brand's television advertising) but subsequently experienced declines. The Celeste brand was later acquired by Aurora Foods, and then Pinnacle Foods. As of 2012, Pinnacle Foods marketed only frozen, microwavable ...
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Spencer Platt/Getty. US stocks were mostly lower on Monday, pulling back from last week's record highs. Investors are turning their attention to third-quarter earnings season, with 21% of S&P 500 ...