Friday 16 May 2014

16 May 2014 - US food products maker The Hillshire Brands Company (NYSE:HSH) said it had closed the takeover of domestic gluten-free and allergy-friendly frozen breakfast and snack foods specialist Van's Natural Foods from buyout firm Catterton Partners.

The parties unveiled the USD165m (EUR120.3m) deal on 21 April.

The target joins Hillshire Brands' retail business area and will continue to be led by its management.

Van's will beef up Hillshire Brands' position in frozen foods, while at the same time helping extend beyond that category, the buyer has said.

The target, which is seen to generate some USD60m in net revenues this year, sells products such as waffles, pancakes, cereal, crackers and snack bars.