Pinnacle Foods Inc, the billion-dollar packaged foods company that made headlines when it bought Gardein late last year, has made another big acquisition recently when it purchased Boulder Brands for $71 million. The buyout positions Pinnacle Foods as owners of a number of health and allergen-free brands, including Earth Balance. Shifting consumer tastes and the surge of demand for healthier, plant-based options by younger shoppers were cited as motivations for the merger. “The acquisition of Boulder Brands further expands our health and wellness portfolio, currently anchored by the Birds Eye and Gardein brands,” Pinnacle Foods CEO Bob Gamgort said. “In addition to being a synergy-rich, accretive transaction with on-trend brands, the acquisition provides us with an important health and wellness talent pool in Boulder, CO.”
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