A major employer in Fayette County will be under new ownership soon. Pinnacle Foods, with a manufacturing plant in St. Elmo, has announced the sale of their company to Hillshire Brands.
Rita Frasier with the Illinois Farm Bureau reported that Hillshire Brands agreed to buy Pinnacle Foods for $4.3 billion.
“That deal would create a company with about $6.6 billion in annual revenue,” Frasier said, “and a broad array of brands, including Hillshire’s namesake lunchmeats, Jimmy Dean sausages, Ballpark Hotdogs, and Sara Lee frozen desserts, plus Pinnacle’s Vlasic Pickles, Wish-Bone salad dressings, Birds Eye frozen vegetables, and Log Cabin syrup. Pinnacle, which is majority-owned by investment firm Blackstone Group, estimates 85 percent of U.S. customers buy at least one of its products.”
Pinnacle currently employs nearly 200 people at their St. Elmo facility where they manufacture Wish-Bone salad dressings.