Hillshire Brands to Acquire Van's Natural Foods
The Hillshire Brands Company and Catterton Partners, a consumer-focused private equity firm, announce that Hillshire Brands has signed a definitive agreement to acquire Catterton portfolio company Van’s Natural Foods. Van’s is a better-for-you food brand that aims to deliver great taste, nutrition, simple/clean ingredients and all-family appeal across multiple product lines in frozen breakfast and snack foods. Hillshire Brands will pay $165 million for Van’s, which is expected to have net revenues of approximately $60 million in calendar year 2014. The transaction is expected to close in May of 2014 pending regulatory clearance.
“The Van’s brand is a terrific addition to our portfolio,” says Sean Connolly, president and chief executive officer, The Hillshire Brands Company. “Not only does it expand our presence in the frozen category, it also gives us a proven health and wellness brand with extendibility beyond frozen.”
Van’s Natural Foods will become part of Hillshire Brands’ Retail segment, pairing with well-known brands such as Jimmy Dean, Hillshire Farm and Ball Park. Van’s Natural Foods’ management will continue to lead the business.
“As a leader in branded foods including breakfast products, Hillshire Brands is an ideal strategic partner for Van’s,” says Eric Kufel, CEO, Van’s Natural Foods. “Our positioning in the large and growing wellness consumer lifestyle segment is a perfect complement to Hillshire Brands’ product portfolio. We are pleased to have worked with Catterton, which helped drive our significant growth and market expansion into multiple new categories. I am truly excited to be joining with Hillshire and beginning the next phase of Van’s growth journey.”
Van’s Natural Foods is based in Phoenix and is a simple/clean ingredient food brand in frozen breakfast and snack foods including waffles, pancakes, cereal, crackers and snack bars. Van’s frozen breakfast and snack foods are available at grocery stores, mass merchandise stores and natural food retailers nationwide.
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“The Van’s brand is a terrific addition to our portfolio,” says Sean Connolly, president and chief executive officer, The Hillshire Brands Company. “Not only does it expand our presence in the frozen category, it also gives us a proven health and wellness brand with extendibility beyond frozen.”
Van’s Natural Foods will become part of Hillshire Brands’ Retail segment, pairing with well-known brands such as Jimmy Dean, Hillshire Farm and Ball Park. Van’s Natural Foods’ management will continue to lead the business.
“As a leader in branded foods including breakfast products, Hillshire Brands is an ideal strategic partner for Van’s,” says Eric Kufel, CEO, Van’s Natural Foods. “Our positioning in the large and growing wellness consumer lifestyle segment is a perfect complement to Hillshire Brands’ product portfolio. We are pleased to have worked with Catterton, which helped drive our significant growth and market expansion into multiple new categories. I am truly excited to be joining with Hillshire and beginning the next phase of Van’s growth journey.”
Van’s Natural Foods is based in Phoenix and is a simple/clean ingredient food brand in frozen breakfast and snack foods including waffles, pancakes, cereal, crackers and snack bars. Van’s frozen breakfast and snack foods are available at grocery stores, mass merchandise stores and natural food retailers nationwide.
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