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The Boston Globe

Business

Pinnacle buys Wish-Bone dressings

PARSIPPANY, N.J. — Pinnacle Foods is buying Wish-Bone salad dressings from Unilever for $580 million.

Combined annual sales, which include the liquid and dry-mix salad dressings under the Wish-Bone and Western brands, total about $190 million.

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‘‘The transaction enhances our ability to offer consumers meal solutions and recipe ideas across our broad portfolio of brands,’’ Pinnacle Foods chief executive Bob Gamgort said in a statement Monday.

Pinnacle Foods Inc., based in Parsippany, N.J., went public in March. Its other products include Vlasic pickles, Duncan Hines frosting and cake mixes, and Birds Eye frozen foods. Pinnacle Foods will pay for the deal with available cash and new debt.

Unilever PLC will continue to produce the brands for an undetermined period of time under a third-party manufacturing agreement. Pinnacle Foods plans to invest $40 million to $50 million to consolidate production at one of its existing plants.

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