- Pinnacle Foods Inc. announced pricing for its initial public offering Thursday, and went on to raise $580 million, the Chicago Tribune reports.
- Pinnacle, which owns the Birds Eye and Duncan Hines brands, was valued at $2.3 billion by its $20-per-share offering.
- The Blackstone Group acquired Pinnacle in April 2007.
From the article:
"... The company, which was acquired by Blackstone in April 2007, manufactures branded food products in North America and had net sales of $2.5 billion in fiscal 2012.
Large companies that were taken over by private equity firms during the 2005-2007 buyout heyday are starting to tap the public markets as U.S. stock markets rally to record highs. ..."