Hillshire Brands Purchasing Pinnacle Foods

Pinnacle Foods, which has food production operations in the region, is being acquired by Hillshire Brands.

Pinnacle, whose brands including Duncan Hines and Aunt Jemima, is being purchased in a cash-and-stock deal valued at approximately $4.23 billion.  Hillshire Brands' roster of brands already includes Jimmy Dean meats and Sara Lee frozen bakery goods.

Pinnacle Foods recently completed the purchase of the former Gilster Mary-Lee facility in Centralia where the Duncan Hines cake mixes are made.  The plant employs 300 people.  Pinnacle Foods also has a facility in St. Elmo that has recently expanded its 85-member workforce.  The St. Elmo plant manufactures Pinnacle's Mrs. Butterworth's and Log Cabin syrup brands and Open Pit barbecue sauces and was adding production of the Wish-bone and Western salad dressing labels, both acquired from Unilever in October.

The combined company will use the Hillshire Brands name and be based in Chicago.  Both companies' boards unanimously approved the acquisition, which is expected to close by September.