date:Aug 13, 2013
ow under a third-party agreement.
The deal is the latest sale of a well-known food brand by Uniliver, which is focusing on higher-growth food labels such as Knorr and Hellmann's and personal care brands such as Dove, Lux and Rexona. It sold its Skippy peanut butter business to Hormel Foods Corp for $700 million in January.
BofA Merrill Lynch is advising Pinnacle, whose shares closed at $25.46 on the New York Stock Exchange on Friday.