Dive Brief:
- Pinnacle Foods announced on Tuesday that its deal to purchase Wish-Bone salad dressings from Unilever for $575 million in cash has closed.
- Funding for the deal, which will also see Western dressings go to Pinnacle, will come from cash and new debt in the form of a $525 million term loan.
- The announcement highlighted Wish-Bone's No. 1 position in the marketplace among Italian dressings, as well as its No. 3 position in dressings overall.
Dive Insight:
Much like its fellow global food giant Nestle, Unilever has been looking for brands to shed recently. having sent Skippy peanut butter to Hormel earlier this year. Wish-Bone and Western will now have a home in the Duncan Hines Grocery segment at Pinnacle, placing them among some veteran grocery-aisle products at the company.