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Pinnacle Foods (PF) Q2 performance is to gain from sturdy in-market performance cost-saving initiatives.
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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 ...
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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.
The Celeste brand was later acquired by Aurora Foods, and then Pinnacle Foods. As of 2012, Pinnacle Foods marketed only frozen, microwavable "Pizza for One" varieties of Celeste pizzas. Distribution is now restricted to more regional markets.
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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