Hillshire Brands Buys Vlasic Pickle Plant In Imlay City

Pinnacle Foods completed a $14 million expansion of it's Vlasic pickle plant just about nine months ago, now they are announcing a buyout by the Hillshire Brands Company.

The Blackstone Group, a New York City private equity group, acquired Pinnacle Foods in 2007 for $2.2 billion. Hillshire reportedly will pay $6.6 billion, paying shareholders $18 for each share of Pinnacle stock and giving them a half share of Hillshire Brands common stock for each share of Pinnacle that they own.

The good news for Imlay City is that Hillshire does not have a pickle producer in it's business list, so it is more likely that the plant will remain in operation.