Chicago — Van’s Natural Foods has been acquired by The Hillshire Brands Co. from private equity firm Catterton Partners for $165 million, the company reports.
Van’s, which produces all-natural and gluten-free products including multigrain chips, crackers and snack bars as well as frozen items, is anticipated to realize net revenue of about $60 million this calendar year, Hillshire Brands reports.
“The Van’s brand is a terrific addition to our portfolio,” says Sean Connolly, president and CEO of Hillshire Brands. “Not only does it expand our presence in the frozen category, it gives us a proven health and wellness brand with extendibility beyond frozen.”
Van’s CEO Eric Kufel says Hillshire is an ideal strategic partner for the natural foods supplier. “Our positioning in the large and growing wellness consumer lifestyle segment is a perfect complement to Hillshire Brands’ product portfolio,” he explains.
The deal is expected to close in May of this year and Van’s current management will continue to lead the business.