- 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.
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.