Blackstone's Pinnacle To Buy Birds Eye For $1.3B

Law360, New York (November 19, 2009, 3:15 PM EST) -- The Blackstone Group's Pinnacle Foods Group LLC has reached a definitive agreement to purchase frozen food giant Birds Eye Foods Inc. for $1.3 billion.

Pinnacle, the maker of Duncan Hines frosting and Mrs. Butterworth's syrup, announced the proposed deal on Thursday, marking the latest major purchase for Blackstone since the private equity firm reached a definitive agreement last month to buy Anheuser-Busch InBev's U.S. theme parks for up to $2.7 billion.

The New Jersey-based Pinnacle said the deal, which halts Birds Eye's plans for a public...
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