McCain Foods has announced its completed the acquisition of Kitchens of Sara Lee (KOSL) Australia from Hillshire Brands, valued at $82 million.
The acquisition includes a manufacturing facility at Lisarow, NSW as well as license rights to the Sara Lee brand and certain intellectual property.
McCain Foods Australia/New Zealand managing director 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 manufactures, sells and distributes a range of Sara Lee products including frozen desserts, super premium ice cream, pastries, frozen savoury meals and frozen fruit.