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Friday, November 14, 2014

Pinnacle Foods to purchase Canadian protein foods maker Garden, (NYSE: PF)

Pinnacle Foods Inc said it would purchase privately held Canadian plant-based protein food maker Garden Protein International Inc for C$175 million ($153.9 million). Pinnacle said the deal, which would include a plant in Vancouver and nearly 250 employees, is expected to close on Friday.The company will fund the takeover with cash in hand.($1 = 1.1375 Canadian dollars)

Shares of PF remained unchanged at $33.63. In the past year, the shares have traded as low as $26.09 and as high as $35.67. On average, 798382 shares of PF exchange hands on a given day and today's volume is recorded at 0.