Blackstone’s Pinnacle aims to swallow Birds Eye Food for $1.3bn |
The Times 20 November 2009 In: Industry news
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Birds Eye Food, the US company that invented the flash-freezing methods that transformed the eating habits of the Western world, is to be bought by New York private equity firm Blackstone in a cash deal worth $1.3bn (£782m), The Times reports.
The frozen food company, which is separate from Birds Eye in Britain, has undergone a substantial turnaround in the past seven years — expanding its product range, selling its non-core assets and investing heavily in marketing to restore the brand as a market leader in America.
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