Diamond Foods To Pay $615M For Kettle Foods

Law360, New York (February 26, 2010, 3:33 PM EST) -- Snack food processor Diamond Foods Inc. will pay $615 million in an all-cash deal to acquire Kettle Foods Inc. from Lion Capital LLP, significantly widening its market reach.

Diamond Foods expects the deal, which is still subject to regulatory approval, to close by the end of the fiscal year, the company said Thursday. The transaction will be funded by a new five-year $600 million credit facility, a future equity offering and available cash reserves, the company said, estimating that earnings per share will fall in the...
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