Blackstone’s Pinnacle to Buy Birds Eye Foods for $1.3 Billion

Nov. 19 (Bloomberg) -- Blackstone Group LP’s Pinnacle Foods Group LLC agreed to buy Birds Eye Foods Inc., the largest U.S. frozen-vegetable company, for $1.3 billion, adding to its Duncan Hines and Swanson food brands as the pace of buyouts increases.

The transaction should close by the first quarter of next year, Pinnacle said today in a statement. The deal will be funded with new debt financing at the company and an equity contribution from New York-based Blackstone, the world’s biggest private-equity company,Morehttp://www.bloomberg.com/apps/news?pid=20601087&sid=ay.N5DoH.oWU&pos=1

Blackstone’s Pinnacle to Buy Birds Eye Foods for $1.3 Billion