Kohlberg & Co. completes purchase of Sara Lee Frozen Bakery
Sara Lee Frozen Bakery will also invest in its research and development efforts, and soon begin building a new R&D facility and test kitchen, including a pilot plant.
Tyson Foods, Inc., Springdale, Ark., commenced the sale of Sara Lee Frozen Bakery to private equity firm Kohlberg & Co., Mount Kisco, N.Y., as previously announced in June. The new Sara Lee Frozen Bakery will focus on its Sara Lee, Van’s, Chef Pierre and Bistro Collection brands in the premium dessert foodservice market.
Sara Lee Frozen Bakery will establish its headquarters in Oakbrook Terrace, Ill., and continue operations at two manufacturing facilities in Traverse City, Mich., and Tarboro, N.C. The new management team, led by Craig Bahner, chief executive officer; Don Davis, president and head of sales; and Jeff Gronbeck, chief financial officer, will be recruiting 60-80 new senior-level professionals in sales and marketing, research and development, finance, human resources and supply chain. The new company will employ approximately 1,300 people at the headquarters and plant locations.