PARSIPPANY, NJ – Pinnacle Foods announced a new financial reporting structure that reflects the integration of the Boulder Brands acquisition.
The company reorganized its reporting structure, creating four new reportable segments in the process. Pinnacle acquired Boulder Brands in 2015 for approximately $975 million. The acquisition added the Udi’s, Glutino, Smart Balance, Earth Balance and EVOL brands to the Pinnacle’s portfolio, in addition to complementary foodservice, private label and Canadian businesses.
Under the new structure:
The Frozen segment consists of Pinnacle’s retail legacy frozen brands, including vegetables (Birds Eye), complete bagged meals (Birds Eye Voila! and Birds Eye Signature Skillets), full-calorie single-serve frozen dinners and entrées (Hungry-Man), prepared seafood (Van de Kamp's and Mrs. Paul's), pancakes / waffles / french toast (Aunt Jemima), frozen and refrigerated bagels (Lender's) and pizza for one (Celeste). Pinnacle also added its Canadian businesses to the Frozen segment, which includes those of the Garden Protein International and Boulder Brands acquisitions.
The Grocery segment is comprised of the grocery brands, including cake/brownie mixes and frostings (Duncan Hines), shelf-stable pickles (Vlasic), salad dressings (Wish-Bone, Western and Bernstein’s), table syrups (Log Cabin and Mrs. Butterworth’s), refrigerated and shelf-stable spreads (Smart Balance), canned meat (Armour, Nalley and Brooks), pie and pastry fillings (Duncan Hines Comstock and Wilderness) and barbecue sauces (Open Pit).
The Boulder segment includes Pinnacle’s health and wellness lifestyle brands — gluten-free products (Udi’s and Glutino), natural frozen meal offerings (EVOL), plant-based refrigerated and shelf-stable spreads (Earth Balance) and plant-based protein frozen products (gardein).
Finally, the Specialty segment includes the company’s snack products (Tim’s Cascade and Snyder of Berlin) and all of its US foodservice and private label businesses, including those of the Garden Protein International and Boulder Brands acquisitions.
