The Hillshire Brands Co. has reported the completion of the company's sale of its Australian bakery business, Kitchens of Sara Lee Pty Ltd., to McCain Foods Australia Pty Ltd. for $82 million (Australian, $85 million U.S.). An agreement for the sale was announced in December (Feedstuffs, Dec. 24, 2012).
The bakery business employs 500 people and sells bakery products to foodservice and retail customers in Australia and throughout the Asian Pacific.
Hillshire, created last year in its spinoff from Sara Lee Corp. (Feedstuffs, July 9, 2012), is a meat-centric food producer that markets under the Hillshire Farm, Ball Park, Jimmy Dean and other brands.
Hormel acquires Skippy
Hormel Foods Corp. has reported the completion of the company's acquisition of the Skippy peanut butter business in the U.S. from Unilever United State Inc.
Hormel announced last month an agreement for the acquisition, which also includes Skippy's operations in China, for $700 million and said it anticipates completing the acquisition of the Chinese division soon.