Vestar Exits Birds Eye Foods

Davis, Avram
November 2009
Mergers & Acquisitions Report;11/23/2009, Vol. 22 Issue 47, p13
The article reports that Vestar Capital Partners, a private equity firm based in New York, will exit its frozen-food portfolio company Birds Eye Foods Inc. in a transaction valued at about 1.3 billion U.S. dollars. Pinnacle Foods Group will acquire the frozen-food maker through senior secured credit facilities and senior unsecured bonds from Barclays Capital, Credit Suisse, BofA Merrill Lynch, and Macquarie Capital. In August 2002, Vestar bought a control stake in Birds Eye which recorded about 936 million dollars in annual sales as of June 27, 2009.


Related Articles

  • Banks Arrange Debt for Birds Eye Acquisition. Davis, Avram // High Yield Report;11/23/2009, Vol. 20 Issue 47, p16 

    The article reports on the decision of New York headquartered-private equity firm Vestar Capital Partners to sell Birds Eye Foods to Pinnacle Foods Group in a transaction valued at about 1.3 billion U.S. dollars. The frozen-food maker will be acquired by Pinnacle using senior secured credit...

  • Pinnacle Completes Birds Eye Deal.  // Mergers & Acquisitions Report;12/28/2009, Vol. 22 Issue 52, p9 

    The article reports on the completion of the 1.3 billion U.S. dollar sale of Birds Eye Foods by Vestar Capital Partners. The company was sold to Pinnacle Foods Group, a portfolio company of The Blackstone Group. In August 2002, Vestar acquired a controlling stake in the frozen food manufacturer....

  • Vestar finds thaw in private equity market. Jacobius, Arleen // Pensions & Investments;11/30/2009, Vol. 37 Issue 24, p8 

    The article reports that Vestar Capital Partners Inc. has sold Birds Eye Foods Inc. to Pinnacle Brands Inc., a portfolio company of Blackstone Group. On November 19, 2009, Pinnacle announced its purchase of Birds Eye from Vestar for 1.3 billion dollars. It is stated that as the deal closes,...

  • Will Investors Warm Up to Pinnacle's Cov-Lite TL? Kellerhals, Richard // High Yield Report;12/7/2009, Vol. 20 Issue 49, p11 

    This article reports that a bank consortium has been marketing to investors an 875 million U.S. dollar term loan to help support the acquisition by Pinnacle Foods of Birds Eye Foods, a frozen-food maker based in Rochester, New York. A 275 million U.S. dollar bridge loan and a 20 million U.S....

  • Unilever To Sell Laundry Business. Costello, Brid // WWD: Women's Wear Daily;7/29/2008, Vol. 196 Issue 20, p5 

    The article reports that the consumer goods company Unilever has inked an agreement to sell its North American laundry business in the U.S., Canada and Puerto Rico to Vestar Capital Partners Inc., a private equity firm. Unilever disclosed that terms of the deal include a cash payment of $1.08...

  • Will Investors Warm Up to Pinnacle Cov-Lite TL? R. K. // Bank Loan Report;12/7/2009, Vol. 24 Issue 47, p1 

    The article reports that a bank consortium may have difficulty in warming investors up to an 875 million dollars loan to support the acquisition of frozen-food maker Birds Eye Foods Inc. by Pinnacle Foods LLC in the U.S. It mentions that the difficulty is due to the loan which is a...

  • Banks Prep Debt for Birds Eye Acquisition. Kellerhals, Richard // High Yield Report;11/30/2009, Vol. 20 Issue 48, p15 

    The article reports on the 895 million U.S. dollar term loan arranged by a bank consortium to help finance the acquisition of Birds Eye Foods by Pinnacle Foods. The consortium is comprised of Bank of America, Barclays, Credit Suisse, HSBC and Macquarie Capital. A 275 million U.S. dollar bridge...

  • Deals around the state. Ruth, João-Pierre // njbiz;1/4/2010, Vol. 23 Issue 1, p2 

    This section offers news briefs on business deals. Pinnacle Foods Group LLC finished its purchase of Birds Eye Foods Inc. for 1.3 billion dollars in debt financing and equity. TeamStaff Inc. confirmed that Advantage RN LLC bought its TeamStaff Rx travel nursing subsidiary for undisclosed...

  • Plant progression.  // Food & Drug Packaging;Sep2007, Vol. 71 Issue 8, p60 

    An interview with Ron Trine, senior vice president, frozen supply chain of Birds Eye Foods is presented. He details the impact of the company's decision to sell its non-branded frozen vegetable business in 2006. He also talks about the reasons behind the sale. He reveals that selling the...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics