Pinnacle Foods To Buy Garden Protein International For C$175 Mln

(RTTNews) - Pinnacle Foods Inc. (PF) Friday said it will buy Canada-based Garden Protein International Inc., for C$175 million from founder and president Yves Potvin and TSG Consumer Partners LLC. Pinnacle said it doesn't expect this acquisition to be much accretive, if at all there is any positive impact on its earnings in 2015.

The deal, which includes a manufacturing facility in Vancouver, British Columbia, and nearly 250 employees, is expected to be completed later today and will be funded with available liquidity.

Gardein is one of the the fastest-growing frozen health and wellness brands in the U.S. and expects to generate net sales of nearly C$65 million in 2014.