Reuters - Pinnacle Foods Will Raise Up to $667M in I.P.O.

Packaged foods maker Pinnacle Foods Inc., backed by Blackstone Group LP, said it expects to raise as much as $667 million from its initial public offering, Reuters reported. The owner of the popular Bird Eye and Duncan Hines brands said in a regulatory filing with the U.S. Securities and Exchange Commission that it plans to sell 29 million shares at between $18 and $20 each. At the top end of the range, Pinnacle Foods would be valued at about $2.3 billion.

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