Industry News

Hillshire Brands Sells Australian Bakery Biz to McCain Foods

Chicago-based The Hillshire Brands Co. signed an agreement to sell 100% of the shares of its Australian subsidiary Kitchens of Sara Lee Pty Ltd to a subsidiary ofHillshire Farms grilled chicken breast McCain Foods Ltd., an international leader in the frozen food industry with U.S. headquarters in Lisle, Ill. Hillshire reports the Kitchens of Sara Lee business as the “Australian Bakery” business. Also included in the transaction are license rights to certain intellectual property used in the Australian Bakery business in the Asia-Pacific region. The total amount of consideration payable in connection with the transaction is approximately $85 million based on recent exchange rates, subject to adjustment. The transaction is expected to close in the first half of calendar year 2013, and is subject to customary closing conditions and regulatory clearance.

“The Sara Lee Australian bakery operation is an excellent business that will complement McCain's strengths,” says Sean Connolly, chief executive officer of Hillshire Brands. “The sale of this business enables Hillshire Brands to focus on driving growth and innovation in our retail and foodservice segments in North America.”

Hillshire Brands’ Australian Bakery business has approximately 500 employees and one primary manufacturing facility in Australia. The business produces and sells a variety of bakery and other food products to retail and foodservice customers in Australia and other parts of the Pacific Rim under the Sara Lee brand name. No other Sara Lee branded fresh bakery products are affected by this transaction.

McCain Foods was named Refrigerated & Frozen Foods’ 2012 Frozen Foods Processor of the Year. Click here to read the corporate feature story, and click here to learn more about its $34 million renovation to its Plover, Wis., plant.

Did you enjoy this article? Click here to subscribe to Refrigerated & Frozen Foods magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

Evolution Fresh: Enhancing the Premium Juice Market with HPP Technology

Evolution Fresh’s new Rancho Cucamonga, Calif., juicery employs HPP technology to help produce cold-pressed juices.

Posted: December 11, 2014

4/30/15 2:00 pm EDT

Best Practices for Executing Capital Projects

Best Practices for Executing Capital Projects, a Food Plant of the Future webinar presented by Hixson and co-sponsored by Food Engineering, will reveal helpful project management techniques and strategies Hixson has learned based on decades of experience in leading food and beverage projects to successful conclusions, how to establish appropriate stakeholder expectations, how to keep control of project quality, schedule and budget and what to do when challenges arise.

Refrigerated and Frozen Foods Magazine

CoverImage

2015 March

Refrigerated & Frozen Foods' March 2015 issue features the Top 150 Frozen Foods Processors report.

Table Of Contents Subscribe

2015 State of the Cold Food Industry

Refrigerated & Frozen Foods’ July 2015 issue covers the State of the Industry report. What trends and analysis would you like to see covered?
View Results Poll Archive

The Refrigerated and Frozen Food Store

ColdPackagingMaterialsGuide_products
Cold Packaging Materials Guide

A guide to cold packaging containers and materials.

More Products

Refrigerated & Frozen Foods Delivers

RFF Infographic 133x133Click here to see a snapshot of the many different ways Refrigerated & Frozen Foods delivers business and technology solutions to cold chain professionals.

STAY CONNECTED

facebook_2014 twitter_40px youtube_40pxlinkedin_40px

Buyer's Guide

Visit our Buyer's Guide!

Refrigerated & Frozen Foods offers a Cold Packaging Materials Guide, as well as a Cold Storage Warehouse Guide, the most comprehensive listing of cold storage warehouses.

Visit the Buyer's Guide page today!