Blackstone to buy Birds Eye for $1.3 billion


Attributing to people familiar with the matter, The Wall Street Journal said  Birds Eye Foods is expected to be acquired for more than US$1.3 billion by Pinnacle Brands Corp.

The report said that all-cash deal is likely to be announced as soon as Thursday. Pinnacle, owned by New York’s Blackstone Group, is one of the country’s largest packaged-food companies with well-known consumer brands.

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