ConAgra Foods is a global manufacturer of processed and packaged foods with revenues of $11 billion annually. It recently acquired Pinnacle Foods, which added iconic brands to its portfolio such as Birds Eye, Duncan Hines, Earth Balance, and Vlasic. Pinnacle Foods will continue to have control over its resources and distinct mission, and it will operate independently of ConAgra Foods. Pinnacle Foods is known as a(n) .

wholly owned subsidiary

Explanation:

A wholly-owned subsidiary is a form of subsidiary arrangement, between two companies, whereby a company is completely owned or its whole stock is bought by another company often referred to as Parent Company after the arrangement or the agreement of the acquisition.

It is also characterized by having control over its resources and specific mission, also operates independently.

Hence, in this case, the right answer is a wholly owned subsidiary

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