Catterton Partners exits Hillshire Brands

Hillshire Brands has closed its buy of Van’s Natural Foods from Catterton Partners. No financial terms were disclosed although previous news reports pegged the value of the purchase at $165 million. Van’s Natural Foods is a frozen breakfast and snack foods brand.

PRESS RELEASE

Hillshire Brands’ (NYSE: HSH) today announced that it has completed its acquisition of Van’s Natural Foods from Catterton Partners. Van’s is a leading better-for-you food brand that delivers great taste, nutrition, simple/clean ingredients and all-family appeal across multiple product lines in frozen breakfast and snack foods. The deal was originally announced on April 21, 2014.
“Van’s is a proven health and wellness brand that has attracted a loyal consumer following,” said Sean Connolly, president and chief executive officer, The Hillshire Brands Company. “Adding Van’s delicious products and talented team to our organization will expand Hillshire Brands’ presence in the frozen category and beyond and help us to drive even greater health and wellness innovation.”
Van’s Natural Foods is a leading simple/clean ingredient food brand in frozen breakfast and snack foods including waffles, pancakes, cereal, crackers and snack bars. Van’s frozen breakfast and snack foods are available at grocery stores, mass merchandise stores and natural food retailers nationwide.
About Hillshire Brands Company
The Hillshire Brands Company (NYSE: HSH) is a leader in branded foods. The company generated approximately $4 billion in annual sales in fiscal 2013, has more than 9,000 employees, and is based in Chicago. Hillshire Brands’ portfolio includes iconic brands such as Jimmy Dean, Ball Park, Hillshire Farm, State Fair, Sara Lee frozen bakery and Chef Pierre pies, as well as artisanal brands Aidells, Gallo Salame and Golden Island premium jerky. For more information on the company, please visit www.hillshirebrands.com.
About Van’s
Van’s Natural Foods, based in Phoenix, is the leading foods brand in gluten-free and allergy-friendly, frozen breakfast and snack foods including waffles, pancakes, cereal, crackers and snack bars. Van’s frozen breakfast and snack foods are available at grocery stores, mass merchandise stores and natural food retailers nationwide. For more information, please visit www.vansfoods.com.
About Catterton Partners
Catterton Partners is the leading consumer-focused private equity firm with more than $4.0 billion currently under management and a twenty-five year track record of success in building high growth companies. Since its founding in 1989, Catterton has leveraged its category insight, strategic and operating skills, and network of industry contacts to establish one of the strongest private equity investment track records in the middle market. Catterton Partners invests in all major consumer segments, including Food and Beverage, Retail and Restaurants, Consumer Products and Services, Consumer Health, and Media and Marketing Services. Catterton’s investments include: Kettle Foods, Wellness and Nature’s Variety Pet Food Companies, Odwalla, CorePower Yoga, Sweet Leaf Tea, Restoration Hardware, Outback Steakhouse, Noodles & Company, PIADA, Pirch, Frederic Fekkai, Build-A-Bear Workshop, and P.F. Chang’s, to name a few. More information about Catterton Partners can be found at www.cpequity.com.

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