New Tool: ProSource
Checkout our packaging and processing solutions finder, ProSource.

Conagra acquiring Pinnacle Foods

Will create a frozen foods leader with expanded snacks presence

Conagra logo
Conagra logo

The boards of directors of Conagra Brands, Inc. and Pinnacle Foods Inc. have unanimously approved a definitive agreement for Conagra to acquire all outstanding shares of Pinnacle Foods. The cash and stock transaction is valued at approximately $10.9 billion, including Pinnacle Foods' outstanding net debt.

The deal will expand Conagra’s presence and capabilities in frozen foods and snacks. Pinnacle Foods’ portfolio includes brands such as Birds Eye, Duncan Hines, Earth Balance, EVOL, Erin’s, Gardein, Glutino, Hawaiian Kettle Style Potato Chips, Hungry-Man, Log Cabin, Tim's Cascade Snacks, Udi’s, Vlasic and Wish-Bone.

The transaction is expected to close by the end of this year, subject to the approval of Pinnacle Foods shareholders, the receipt of regulatory approvals and other customary closing conditions.

Test Your Smarts
Take ProFood World's food safety quiz to prove your knowledge!
Read More
Test Your Smarts
How Can You Honor a Leader?
Induction into the Packaging & Processing Hall of Fame is the highest honor in our industry. Submit your leader to be considered for the Class of 2024 now through June 10th. New members will be inducted at PACK EXPO International in Chicago.
Read More
How Can You Honor a Leader?