Pinnacle Foods Inc. has agreed to acquire Boulder Brands Inc.,the maker of better-for-you foods such as gluten-free snacks, for about $975 million, the two companies announced on Tuesday. The Boulder, Colo.-based target said in early August it had hired investment bank William Blair & Co. LLC to conduct a strategic review, which could result in a sale, noting it had already received inquiries from interested parties. As part of the agreement Pinnacle Foods will launch a tender offer to acquire all of Boulder Brands’ outstanding shares for $11 each. The $975 million price tag includes about $265 million of debt. The deal is expected to close in the first quarter of 2016 and will likely be accretive during the course of that year. The Deal’s Laura Cooper has details from New York.
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