Food is a big deal.
ConAgra Brands Inc. (CAG - Get Report) closed the deal to purchase Pinnacle Foods Inc. (PF) for more than $8 billion of cash and stock on Wednesday, June 27. The acquisition will expand the Chef Boyardee and Healthy Choice brand owner's footprint in the frozen foods aisle of the supermarket with Pinnacle's brand such as Birds Eye vegetables and Hungry man Meals.
The deal, which adds up to more than $10 billion when including debt, is one of the biggest acquisitions for a food brand. Here are some other big food deals:
Pets loved this deal. J.M. Smucker Co. (SJM - Get Report) acquired the maker of Milk-Bone and Meow Mix, Big Heart Pet Brands, for $5.8 billion in February 2015 in order to expand its holding to more than just jam and jelly.
French dairy company Danone SA bought WhiteWave Foods Co, known best for its Silk almond milk, for $12.5 billion in July 2016 in order to get a badly needed sales boost at the time.
Cereal maker Post Holdings, Inc. POST paid $1.5 billion for Bob Evans Farms in September 2017. This would make Post a complete breakfast company to go along with Bob Evans' frozen breakfast foods.
Group Bimbo, the multinational bakery company based in Mexico, used $959 million of its own "bread" to buy Sara Lee in November 2010 to become the third-largest baking company in the U.S.
While $1.4 billion may not seem like a big deal by today's standards, it was in 1994 when Quaker Oats purchased Snapple. At the time, Snapple was "hip" with the kids, but it didn't work out for the oats maker who sold the tea brand for $300 million in 1997.