Unilever offloads salad dressing

 
Kasmira Jefford
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PINNACLE Foods, the US packaged food business behind brands such as Birds Eye and Hungry Man, said yesterday it has agreed to buy Unilever’s Wish-Bone salad dressings business for $580m (£374.7m).
The deal is the latest sale of a well-known food brand by the FTSE 100 consumer group, after it sold its iconic peanut butter label Skippy for £435m to Hormel Foods in January.
Pinnacle, which is majority-owned by private equity firm Blackstone Group, said the acquisition would be funded from cash and new debt.