US$85-million deal encompasses manufacturing, marketing, distribution and exporting of frozen desserts
BALLARAT, Aus—McCain Foods Australian division has signed an agreement to acquire 100 per cent of the shares of the Kitchens of Sara Lee (KOSL) frozen bakery business based in Australia and New Zealand from Hillshire Brands.
The US$85-million deal encompasses KOSL’s manufacturing, marketing, distribution and exporting of frozen desserts, as well as licensing rights to the Sara Lee trademark in connection with the bakery business in Australia and other areas within the Pacific Rim.
The transaction is subject to closing conditions and regulatory approvals.
KOSL is an Australian and New Zealand frozen food company that manufactures, sells and distributes Sara Lee branded frozen desserts, ice cream, pastries, frozen meals and frozen fruit at a facility in Lisarow, New South Wales and employs approximately 500 people.