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[4] That year, Pinnacle Foods had its IPO on the New York Stock Exchange, raising approximately $580 million for its owners, the private equity Blackstone Group. Shares began trading under the ticker symbol PF on April 4 at the upper range of its offering, $20 per share, thereby valuing Pinnacle Foods with a market capitalization of $2.3 ...
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.
The company was sold to Kraft Foods in 1984. In 2003, it became part of Pinnacle Foods. In 1994 it began production of room-temperature fresh bagels. In 2012, Lender's revenue was about $70 million. In 2018 Pinnacle foods was sold to Conagra, which then sold Lender's Bagels out of Pinnacle to Bimbo Bakery.
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.
Investing.com - Stocks in focus in pre-market trade Wednesday:
Conagra Brands Inc said on Wednesday it would buy Pinnacle Foods Inc for about $8.1 billion in cash and stock.
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