Hillshire Brands, a US-based food company, has agreed to acquire Golden Island, a manufacturer of premium gourmet jerky products, for an undisclosed amount.
Headquartered in Rancho Cucamonga, California, Golden Island produces more than 20 gourmet varieties made with whole cuts of meat offering 8g of protein in each serving and contains 40-60% less sodium than most other jerkies.
After completion of the transaction, Golden Island will operate as part of Hillshire Brands' Gourmet Food and will join the existing brands such as Aidells and Gallo.
The group will be led by Sally Grimes, who will assume the role of senior vice president, chief innovation officer and president for Hillshire Brands Gourmet Food.
Hillshire Brands president and CEO Sean Connolly said the acquisition provides the company with an entry point into the dried meat snacks category.
"This highly appealing category generates retail sales of more than $2 billion annually and has had 10 percent volume growth over the past two years."
"While we are excited about our future prospects in this category, this is a small acquisition for us and is not expected to have a material impact on our earnings this fiscal year," Connolly added.
Golden Island president Anna Kan said: "Hillshire Brands is the perfect company to help take the Golden Island brand to new heights."
Headquartered in Rancho Cucamonga, California, Golden Island produces more than 20 gourmet varieties made with whole cuts of meat offering 8g of protein in each serving and contains 40-60% less sodium than most other jerkies.
After completion of the transaction, Golden Island will operate as part of Hillshire Brands' Gourmet Food and will join the existing brands such as Aidells and Gallo.
The group will be led by Sally Grimes, who will assume the role of senior vice president, chief innovation officer and president for Hillshire Brands Gourmet Food.
Hillshire Brands president and CEO Sean Connolly said the acquisition provides the company with an entry point into the dried meat snacks category.
"This highly appealing category generates retail sales of more than $2 billion annually and has had 10 percent volume growth over the past two years."
"While we are excited about our future prospects in this category, this is a small acquisition for us and is not expected to have a material impact on our earnings this fiscal year," Connolly added.
Golden Island president Anna Kan said: "Hillshire Brands is the perfect company to help take the Golden Island brand to new heights."
