Pinnacle Foods Inc. is buying Unilever’s Wish-Bone and Western dressing brands for about $580 million.
The deal does not include Unilever’s facility in Independence, Mo., where the brands are produced, but the factory will continue to manufacture for Pinnacle Foods under a third-party agreement.
Parsippany, N.J.-based Pinnacle Foods markets and distributes branded foods, including Duncan Hines, Vlasic, Mrs. Butterworth’s, Log Cabin, Brids Eye Steamfresh.
Unilever, headquartered in Rotterdam, England, supplies food, home and personal care products in more than 190 countries. Brands include Knorr, Dove, Sunsilk, Hellmann’s, Lipton, Ponds and Axe. The deal allows Unilever to focus on growing a core foods portfolio, which includes Promise, Ben & Jerry’s and Klondike.
Other recent food deals include CEO David Murdock’s offer to take Dole Food Co. private for $1.2 billion; Campbell Soup Co.’s (NYSE: CPB) acquisition of Kelsen Group, and TreeHouse Foods Inc.’s (NYSE: THS) deal for Associate Brands GP Corp.