Pinnacle Foods Group has announced today (9 March) that it had commenced a cash tender offer to purchase any and all of its outstanding 8.25% Senior Subordinated Notes due 2013.
The New Jersey-based branded foods producer, which includes the Aunt Jemima, Mrs Butterworth’s, Swanson and Vlasic brands in its portfolio, also announced a related consent solicitation to amend the indenture pursuant to which the notes were issued.
The tender offer and consent solicitation are being made in connection with the previously announced agreement by Peak Acquisition, an affiliate of The Blackstone Group, to merge with and into Crunch Holding, which owns all of the issued and outstanding capital stock of Pinnacle Foods.
Private equity firm Blackstone confirmed last month that it had entered into an agreement to acquire Pinnacle Foods for a total consideration of around US$2.16bn.
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