US food company Hillshire Brands has signed a definitive agreement with Catterton Partners to acquire the latter’s Van’s Natural Foods for $165m.
Van's is a better-for-you food brand whose portfolio includes multiple product lines in frozen breakfast and snack foods.
The transaction is expected to close in May this year, subject to regulatory clearance.
Hillshire Brands president and chief executive officer Sean Connolly said the Van's brand is a terrific addition to the company's portfolio.
"Not only does it expand our presence in the frozen category, it also gives us a proven health and wellness brand with extendability beyond frozen," Connolly added.
Following the acquisition, Van's Natural Foods will become part of Hillshire Brands' Retail segment that already brands such as Jimmy Dean, Hillshire Farm and Ball Park.
Van's Natural Foods' management will continue to lead the operations.
