Tyson Foods has entered into an agreement to sell its Sara Lee
The sale includes the Chef Pierre, Bistro Collection and Van’s brands, and a license to use the Sara Lee brand in certain channels. The deal also includes the sale of the company’s
“These are great assets with outstanding team members; however, we’re focused on expanding Tyson Foods’ leadership position in protein,” said
With the planned divestiture of the two business, Tyson Foods is following through with its plans to sell all non-protein business, an announcement it made in April 2017. The company earlier divested of Kettle, a maker of sauces, dips, soups and side dishes, for $125 million, but did not disclose the identity of the buyer. That transaction closed at the conclusion of 2017.
Kohlberg is partnering with
“I’m very excited to be joining the team,” commented Fraleigh. “With established and iconic brands, including Sara Lee, Chef Pierre, Bistro Collection, and Van’s, this business is well-positioned to continue its historical growth trajectory. I look forward to working with the company’s employees to execute on growth opportunities we’ve identified and continue providing customers with excellent service, innovation and consistently high quality products.”
The terms of the agreement are not being disclosed.