Pinnacle Foods Inc said it would purchase plant-based protein food maker Garden Protein International Inc for C$175 million ($154 million) from founder Yves Potvin and private equity firm TSG Consumer Partners LLC.Vancouver-based Garden sells its products under the 'Gardein' brand, founded by Potvin in 2009. The brand is expected to generate net sales of about C$65 million in 2014, Pinnacle said.The brand's frozen plant-based foods serve as alternatives for traditional animal-based products such as chicken strips and tenders, ground beef and fish fillets.The brand is available in over 22,000 retail stores in North America, including those of Kroger Co and Target Corp .
The Kroger Co. is a retailer in the United States. Shares of KR fell by 0.02% or $-0.01/share to $58.38. In the past year, the shares have traded as low as $35.13 and as high as $58.82. On average, 3074600 shares of KR exchange hands on a given day and today's volume is recorded at 27818.
Shares of PF traded higher by 0.12% or $0.04/share to $33.67. 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 2523.
Target Corporation sells a range of assortment of general merchandise and food in its stores. Shares of TGT fell by 0.4% or $-0.27/share to $67.23. In the past year, the shares have traded as low as $54.66 and as high as $67.78. On average, 4390430 shares of TGT exchange hands on a given day and today's volume is recorded at 77583.
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