Hillshire Brands to buy Pinnacle Foods for $4.23 billion
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JACKSONn, Tenn. — Hillshire Brands said Monday it agreed to pay nearly $4.3 billion to buy Pinnacle Foods. Pinnacle makes Duncan Hines and Aunt Jemima products. Hillshire is behind the brands Jimmy Dean and Ballpark. The combined company will be based in Chicago and go by the name Hillshire Brands. Pinnacle Foods is the 8th largest employer in Madison County and employs 590 people. “Our team has been in touch with Pinnacle and we have learned that all communications will be handled by the corporate offices of Pinnacle and Hillshire,” said Kyle Spurgeon, President/CEO, Jackson Chamber. “Additionally, we have seen no indication that the acquisition could negatively affect the Jackson operations.” A spokesperson with Pinnacle Foods says the company is focusing its efforts today on informing employees on the merger and does not have an answer on if this will cost employees jobs.
