Blackstone-backed Pinnacle Foods sets terms for $551 million IPO

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Pinnacle Foods, which is a leading packaged foods company backed by Blackstone, announced terms for its IPO on Friday. The Parsippany, NJ-based company plans to raise $551 million by offering 29 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Pinnacle Foods would command a fully diluted market value of $2.1 billion. Pinnacle Foods, which was founded in 2001 and booked $2.5 billion in sales for the 12 months ended 12/30/2012, plans to list on the NYSE under the symbol PF. Barclays, BofA Merrill Lynch, Credit Suisse, Goldman Sachs, Morgan Stanley and UBS are the joint bookrunners on the deal.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

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