Conagra Buying Pinnacle Foods in $10.9 Billion Deal
*By Justin Chermol*
Shares of Conagra Brands and Pinnacle Foods dropped Wednesday after the companies announced an $11 billion merger that would create a giant in the frozen food industry.
The cash and stock deal, which brings together the Healthy Choice and Bird’s Eye, values Pinnacle at $68 a share, only a few cents higher than where the stock closed on Tuesday.
With grocery giants like Walmart, Kroger, and Costco, putting pressure on packaged food makers to reduce prices, companies like Conagra and Pinnacle have been forced to consolidate. Further weighing on these companies is the increased awareness of health and nutrition over the past decade, which has driven down sales of packaged, frozen, non-perishable foods.
But both Conagra and Pinnacle have recently debuted healthier frozen food options and reduced prices, helping grow sales in their most recent quarters. A combined company would have annual revenues of about $11 billion.
Chris Versace, CIO at Tematica Research, joins to discuss earnings season trends, Flash PMI signals, Walmart’s strategy updates, and Nike’s evolving outlook.
Andrew Nusca, Editorial Director at Fortune, dives into WhatsApp’s first-ever ads rollout —and how Meta’s ad push intensifies its showdown with OpenAI.
Ben Geman, Energy Reporter at Axios, joins to discuss the latest Middle East tensions, Brent crude price swings, and why gas prices aren’t falling with oil.
Al Root, Associate Editor at Barron's, joins to discuss Tesla’s robotaxis going live in Texas—what it means for autonomy, safety, and the EV race ahead.
Dena Jalbert, M&A expert and CEO of Align Business Advisory Services, on the state of U.S. M&A: deals worth $1–$10 billion (including debt) are surging.
Jeremy Jansen, Head of Supply Chain at Wells Fargo, unpacks the ongoing trade talks between the United States and China as consumers still wonder about tariffs.
A group of Democratic Texas lawmakers is asking Elon Musk to delay his rollout of driverless ‘robotaxis’ in the state this weekend to assure the vehicles are safe enough.
