Hillshire expands non-meat offerings with Van’s

SHARE Hillshire expands non-meat offerings with Van’s

THE ASSOCIATED PRESS

Hillshire Brands said Monday it reached a deal to buy Van’s Natural Foods from private equity firm Catterton Partners for $165 million, marking the company’s expansion into non-meat foods.

The Chicago-based company said Van’s — which makes gluten-free foods including cereal, chips and snack bars — is expected to have net revenue of about $60 million this year. The deal is expected to close in May, pending regulatory approvals. Hillshire said the management for Van’s will continue to lead the business.

Hillshire CEO Sean Connolly said in a statement the acquisition helps the company boost its presence in the frozen and “health and wellness” categories.

The deal comes as Hillshire looks to diversify its portfolio of products, which are primarily focused on meat products, such as its namesake lunchmeats, Ball Park hot dogs and Jimmy Dean sausages. The company also makes Sara Lee frozen bakery products.

Hillshire was created in 2012 after Sara Lee split in two; the other company was D.E. Master Blenders 1753, a reference to one of the company’s coffee brands. That company is based in the Netherlands.

Hillshire Brands to close Alabama plant

The Latest
Bench coach Miguel Cairo will continue to serve as acting manager for the rest of the season.
Illinois has reported an average of 2,482 new cases per day over the past week, a 32% decline compared to a month ago.
The jazz great died in Los Angeles early Saturday, his record label announced.
Four men were fatally shot in under three hours early Saturday, according to police.
Kahleah Copper is one of eight players making their World Cup debut, along with her Rutgers teammate, the Sky’s 2015 17th overall draft pick, Betnijah Laney, who plays for the New York Liberty.