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Vlasic Foods International Inc

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BUSINESS
January 30, 2001 | Reuters
Vlasic Foods International Inc. filed for bankruptcy protection and agreed to sell its core pickle business and Open Pit barbecue sauce line to leading global food maker H.J. Heinz Co. in a court-supervised auction for $195 million. The deal is expected to help debt-laden Vlasic, based in Cherry Hill, N.J., emerge from bankruptcy protection. Vlasic, which was spun off from Campbell Soup Co. about three years ago, is also expected to sell its Swanson frozen dinners business, analysts said.
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BUSINESS
January 30, 2001 | Reuters
Vlasic Foods International Inc. filed for bankruptcy protection and agreed to sell its core pickle business and Open Pit barbecue sauce line to leading global food maker H.J. Heinz Co. in a court-supervised auction for $195 million. The deal is expected to help debt-laden Vlasic, based in Cherry Hill, N.J., emerge from bankruptcy protection. Vlasic, which was spun off from Campbell Soup Co. about three years ago, is also expected to sell its Swanson frozen dinners business, analysts said.
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BUSINESS
February 25, 1999 | Bloomberg News
Vlasic Foods International Inc. said profit declined 10% in its fiscal second quarter to $10.8 million, or 24 cents a share, and warned that its fiscal 1999 results will fall below estimates because of issues related to its Argentina-based meat-processing unit. Revenue at the maker of Vlasic pickles and Swanson frozen dinners fell 5% in the quarter. The quarterly results beat analyst estimates of 20 cents, but the warning for the full year pulled Vlasic shares down $2.88 to close at $14.
BUSINESS
May 24, 2001 | Bloomberg News
Hicks, Muse, Tate & Furst, the buyout firm battered by money-losing bets on movie theaters and telecommunications start-ups, said it's returning to basic industries with the purchase of bankrupt pickle maker Vlasic Foods International Inc. for about $370 million. Vlasic persuaded a bankruptcy judge two weeks ago to approve the sale of its assets to the buyout group. The sale also includes Open Pit barbecue sauce and Swanson frozen foods, which created the first frozen pot pie and TV dinners.
BUSINESS
February 13, 2007 | From Bloomberg News
Blackstone Group agreed to buy Pinnacle Foods Group Inc. on Monday for $2.2 billion including debt, becoming the third private equity firm in four years to own the maker of Duncan Hines cake mixes and Hungry Man frozen dinners. Blackstone, based in New York, is acquiring Pinnacle of Cherry Hill, N.J., from CCMP Capital Advisors, the companies said. Blackstone didn't say how much debt was involved. Pinnacle, which has annual gross sales of about $2.
NEWS
February 17, 2001 | HOPE YEN, ASSOCIATED PRESS
As she readied her move out of North Carolina last fall, Juliet Sarkessian didn't know what to expect from the resumes she casually sent to Philadelphia law firms. But within weeks, Sarkessian had been interviewed several times and hired by one of the city's most prominent firms. Her appeal: She's a bankruptcy specialist. As the slowing economy backs many weaker companies into a financial corner, law firms around the country are scurrying to beef up their bankruptcy practices.
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