Hillshire Brands To Buy Van's Natural Foods For $165 Mln

(RTTNews) - Hillshire Brands Co. (HSH) and Catterton Partners, a consumer-focused private equity firm, announced that Hillshire Brands has agreed to acquire Catterton portfolio company Van's Natural Foods. Hillshire Brands would pay $165 million for Van's, which is likely to have net revenues of nearly $60 million in the calendar year 2014. The transaction may close in May of 2014, pending regulatory clearance.

Van's Natural Foods would be a part of Hillshire Brands' Retail unit, pairing with famous brands like Jimmy Dean, Hillshire Farm and Ball Park. Van's Natural Foods' management would continue to lead the business.

Centerview Partners served as financial advisor and Stinson Leonard Street served as legal advisor to Hillshire Brands. Houlihan Lokey served as financial advisor and Gibson Dunn & Crutcher served as legal advisor to Van's in relation with the deal.