- Pinnacle Foods predicts it will have a double-digit rise in profits this year, anticipating continued growth after reporting an impressive increase of 70% for 2013.
- Pinnacle attributes its success to its "long-term growth algorithm" and its acquisitions of Wish-Bone dressing from Unilever.
- Net earnings in the year jumped 70.1% to $89.3 million. Excluding week 53 of that year, net sales were up 0.6%, reflecting an 1.6 point benefit from the Wish-Bone acquisition.
CEO Bob Gamgort called 2013 "an outstanding first year as a public company." Pinnacle has benefited from Unilever's sell-off, and if the Ragú brand also fits its growth algorithm perhaps it will make an offer for that food line, which Unilever is now looking to sell for between $1.5 and $2 billion. Pinnacle was among the companies approached, along with Heinz and Kraft. If it can meet that kind of asking price, Pinnacle might find the acquisition an additional "catalyst for growth," both in the short and long term.