Hillshire Brands, which has recently acquired Van’s Natural Foods has announced it has agreed to acquire New Jersey-based Pinnacle Foods Group in a deal worth $6.6 billion. Pinnacle Foods’ portfolio of brands includes Duncan Hines cake mixes, Vlasic pickles, Wish Bone salad dressings, Mrs. Butterworth’s and Log Cabin syrups, Armour canned meats, and Brooks & Nalley chillies. Hillshire states that its increased sales and more diversified portfolio that comes with the acquisition will deliver strong cash flow, and it expects the combined business to achieve $140 million in estimated annual cost synergies derived from supply chain enhancements and the consolidation of overhead expenses.
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