Private Label Brands

Hillshire withdrew its recommendation of the acquisition of Pinnacle Foods following receipt of the unilaterally binding offer from Tyson.

The company will focus efforts on branded products and growth categories such as "better-for-you" snacks.

The acquisition valued at $860 million is expected to position TreeHouse as the private label leader in the on-trend and high growth healthy snacks sector.

Baptista's is the manufacturer of the fast-growing Snack Factory Pretzel Crisps brand and has unique capabilities consistent with the strategic plans of Snyder's-Lance.

Following the conclusion of the bidding process, Tyson Foods submits unilaterally binding offer to acquire Hillshire Brands for $8.55 billion in cash.

This new proposal comes just days after Tyson Foods Inc.'s competing offer for Hillshire, which exceeded Pilgrim's Pride's initial offer of $6.4 billion at a total value of $6.8 billion.

Valued at $6.8 billion, the deal is another alternative to a recently proposed offer from Pilgrims Pride, and is also subject to the termination of Hillshire's previous merger agreement with Pinnacle.

Previously at Schwans, the exec helped revitalize the pizza business by repositioning iconic brands like Red Baron and Freschetta, including launching new advertising and bringing consumer driven innovation.