| Type | Private |
|---|---|
| Industry | Food processing |
| Founded | 1998 (as Vlasic Foods International) |
| Headquarters | Mountain Lakes, New Jersey, U.S. |
| Key people | Roger Deromedi, Chairman Bob Gamgort, CEO |
| Products | Frozen food, Condiments, Baking mixes, Packaged meat |
| Revenue | $2.5 billion USD(2010) |
| Owner(s) | The Blackstone Group |
| Employees | 4,000 |
| Website | www.pinnaclefoodscorp.com |
Pinnacle Foods Group LLC is a leading packaged foods company headquartered in Mountain Lakes, New Jersey, owned by The Blackstone Group. Pinnacle Foods is a key player in the shelf stable and frozen food categories and their products can be found in more than 85% of American households.
The company was founded in 1998 as Vlasic Foods International, acquiring the Swanson TV dinners, Open Pit and Vlasic Pickles brands from the Campbell Soup Company. In 2003, it acquired Aurora Foods, based in St. Louis, Missouri. The Blackstone Group bought Pinnacle Foods in 2007. In 2009, Pinnacle Foods acquired Birds Eye Foods, Inc.
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Aurora Foods was founded by Ian Wilson, a former executive with Coca-Cola and Dole, in 1995. Wilson used the company to purchase the Van de Kamp's seafood brand from Pillsbury and several other brands as the years progressed. These brands were in many cases market leaders, but the parent companies no longer considered them a part of their core marketing strategy, and refused to spend any more money on new marketing and development.
In 2001, Wilson and other Aurora executives pleaded guilty to securities fraud for misrepresenting the company's financial statements. Wilson was sentenced to 33 months in prison and was fined $1 million.
In 2000, Jim Smith, a former executive with ConAgra, was named CEO and was charged with restoring Aurora Foods to health.[1] He remained until 2002, which set events in motion leading to Aurora's acquisition. After the 2003 merger with Pinnacle Foods, Pinnacle closed the St. Louis offices and relocated all operations into the Cherry Hill, New Jersey, headquarters.
Pinnacle Foods was acquired by The Blackstone Group, a New York City-based private equity firm, in April 2007.[2]
In 2009 Pinnacle Foods acquired Birds Eye Foods, Inc. adding a mix of frozen and specialty brands to their portfolio.
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