Consumer Products Sell Off After Amazon/Whole Foods Tie-Up; Shares Still Not Overly Attractive
Consumer products firms (including household and personal-care and packaged-food firms) sold off early on June 16 (with most ticking down at a low- to mid-single-digit rate) in response to news that Amazon intends to acquire Whole Foods Market in a $14 billion all-cash transaction. While we understand the strategic rationale for the deal for Amazon--giving it an opportunity to gain a larger brick-and-mortar presence, as well as access to higher-quality fresh food, which helps its ambitions to ex...Pinnacle Foods is a holding company. The company is a manufacturer, marketer and distributor of convenience food products. The company's operations are managed and reported in four operating segments: frozen, which is comprised of the retail businesses of the company's legacy frozen brands, including vegetables, complete bagged meals, frozen dinners and entrees, among others; grocery, which is comprised of the retail businesses of the company's grocery brands; boulder, which is comprised of the retail businesses of the company's health and wellness lifestyle brands; and specialty, which includes the company's snack products (Tim's Cascade and Snyder of Berlin) and all of its U.S. foodservice and private label businesses.
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