McCain finalizes purchase of Australian bakery business
Feb. 4, 2013
by Eric Schroeder
CHICAGO — McCain Foods (Aust) Pty. Ltd. has completed the acquisition of the Kitchens of Sara Lee frozen bakery business from Hillshire Brands Co., a move that paves the way for the company to expand its range of products across desserts, meals and snacking occasions. The sale originally was announced in December 2012.
The transaction is valued at approximately $85 million, and it includes license rights to certain intellectual property used in the Australian bakery business in the Asia-Pacific region. The acquisition also includes Kitchens of Sara Lee’s manufacturing, marketing, distribution and exporting of frozen desserts.
Sara Lee opened the Kitchens of Sara Lee at Lisarow, on the New South Wales Central Coast, in 1971. The business was established to supply Sara Lee products not only to Australia but to the entire Indian Ocean, South East Asia, and Pacific regions. Today, the company manufactures, sells and distributes a range of Sara Lee branded products in the frozen desserts, super premium ice cream, pastries, frozen savory meals and frozen fruit categories. The company employs about 500 people at the Lisarow facility.