Pinnacle Foods To Buy Boulder Brands In $975 Million Deal, Including Debt
Boulder Brands Inc. shares surged 8% in premarket trade Tuesday, after Pinnacle Foods Inc. said it has agreed to buy the Colorado-based food company in a deal valued at about $975 million, including $265 million of debt. Pinnacle will pay $11 per share in a deal expected to boost earnings starting in 2016. The deal is expected to close in the first quarter. Boulder Brands makes a range of health and wellness brands, including Udi's and Glutino gluten-free products, as well as the Earth Balance vegan foods line. The company had annual sales of more than $500 million in 2014. Pinnacle Foods shares were not yet active in premarket trade.
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