Filed under: Private equity, Blackstone Group L.P (BX)

Controlled by the Blackstone Group (BX), Pinnacle Foods is a packaged foods company whose brands can be found in about 80% of the households in the U.S. The portfolio includes Duncan Hines baking mixes and frostings, Vlasic pickles and Swanson frozen dinners.

Well, Pinnacle will get even bigger; that is, the company — along with the financing from Blackstone — will purchase Birds Eye Foods for roughly $1.3 billion. There will also be debt financing from Barclays Capital (BCS), Credit Suisse (CS), BofA Merrill Lynch (BAC), HSBC and Macquarie Capital.

Continue reading Blackstone chomps on $1.3B deal for Birds Eye

Blackstone chomps on $1.3B deal for Birds Eye originally appeared on BloggingStocks on Thu, 19 Nov 2009 12:40:00 EST. Please see our terms for use of feeds.

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