McCain Foods finalizes acquisition of the Kitchens of Sara Lee (Australia)

McCain Foods today announced it has completed the acquisition of Kitchens of Sara Lee (KOSL) Australia from Hillshire Brands, boosting its consumer offering.

The transaction, initiated on December 18, is valued at A$82M (about 84.5M USD)

The acquisition of KOSL includes a manufacturing facility at Lisarow, New South Wales, as well as license rights to the Sara Lee brand and certain intellectual property used in the Australian bakery business in the Asia-Pacific region.

McCain Foods Australia/New Zealand managing director Mr. Steve Yung said, “Sara Lee is a great addition to our family of frozen foods and will provide a platform for growth. We are now focused on a smooth integration of the new business without disruption to our consumers and customers.”

KOSL is a leading Australian and New Zealand frozen food company that manufactures, sells and distributes a range of Sara Lee branded products in frozen desserts, super premium ice cream, pastries, frozen savoury meals and frozen fruit categories.

McCain Australia/New Zealand, based in Ballarat, is a subsidiary of McCain Foods Limited that specializes in frozen potato products, vegetables, dinners, pizza and frozen fruit, for both the Retail and Foodservice sectors. The company operates eight production facilities, which are located on five sites throughout Australia and New Zealand.

Source: McCain Foods Australia/New Zealan