• The Wall Street Journal reports that Pinnacle Brands Corp., owned by private equity firm Blackstone Group, will spend $1.3 billion “to acquire Birds Eye Foods, the largest frozen-vegetable company in the U.S.”
According to the Journal, the all-cash deal “is yet another sign that private-equity funds have become more willing to make acquisitions after a tumultuous two years. Simultaneously, many such funds have been eager to sell businesses, having delivered meager returns during the freeze in the credit and merger markets. The purchase may also be another signal that lenders are willing to provide financing for deals with more leverage.”
• The Food Marketing Institute (FMI) has recognized Barbara McConnell, president of the Food Industry Association Executives (FIAE), with an award of excellence for her leadership in promoting the food industry through the strength of state associations.
“Barbara has worked tirelessly to make sure the state associations are kept up-to-date and are well-informed about the industry’s most pressing issues,” said Leslie Sarasin, president/CEO of FMI. “She is an extremely popular and effective leader on behalf of the food industry.”
According to the Journal, the all-cash deal “is yet another sign that private-equity funds have become more willing to make acquisitions after a tumultuous two years. Simultaneously, many such funds have been eager to sell businesses, having delivered meager returns during the freeze in the credit and merger markets. The purchase may also be another signal that lenders are willing to provide financing for deals with more leverage.”
• The Food Marketing Institute (FMI) has recognized Barbara McConnell, president of the Food Industry Association Executives (FIAE), with an award of excellence for her leadership in promoting the food industry through the strength of state associations.
“Barbara has worked tirelessly to make sure the state associations are kept up-to-date and are well-informed about the industry’s most pressing issues,” said Leslie Sarasin, president/CEO of FMI. “She is an extremely popular and effective leader on behalf of the food industry.”
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