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Pinnacle Foods to buy Wish-Bone and Western brands for $580 million
LONDON, Aug. 12 () -- Home care products and food giant Unilever said Monday it would sell Wish-Bone and Western dressing brands to U.S. corporation Pinnacle Foods for $580 million.Unilever said the deal, which is subject to regulatory approval, would not include the company's Independence, Mo., facility where the two dressing brands are currently produced. The factory, however, "will continue to manufacture for Pinnacle Foods under a third-party agreement."Kees Kruythoff, president of Unilever North America, said he believed the brands would thrive as Pinnacle products."Wish-Bone is an iconic brand and the No. 1 Italian dressings brand in the United States. We believe that the potential of both the Wish-Bone and Western brands can now be more fully realized with Pinnacle Foods."He also said the transaction would "give us [at Unilever] focus to drive growth behind our core food portfolio."Pinnacle Foods has its headquarters in Parsippany,[url=http://www.moncleroutleto.co.uk]moncler uk[/url], N.J., while Unilever is based in London and Rotterdam in the Netherlands.