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In a pickle, Vlasic files for bankruptcy

Vlasic Foods International Inc. today filed for Chapter 11 bankruptcy and agreed to sell its core pickle business and barbecue-sauce line to H.J. Heinz Co. The deal is expected to help the New Jersey-based Vlasic emerge from bankruptcy. Vlasic will sell its pickle line and Open Pit barbecue sauce line for $195 million. The pickle business and the barbecue sauce line had combined sales in fiscal 2000 of some $300 million.

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Vlasic Foods International Inc. today filed for Chapter 11 bankruptcy and agreed to sell its core pickle business and barbecue-sauce ...