US food company Hillshire Brands has completed the sale of its Australian subsidiary Kitchens of Sara Lee (KOSL) to McCain Foods (Aust), a subsidiary of McCain Foods, for A$82m ($85m).
McCain Foods (Aust) entered into an agreement to acquire KOSL in December 2012.
With the acquisition, the Canadian frozen food company McCain Foods has gained control of KOSL's operations including the manufacturing, marketing, distribution and exporting of frozen desserts along with licensing rights to the Sara Lee trademark for the production of bakery products in Australia.
KOSL, the frozen bakery business, owns a facility in Lisarow, New South Wales. The company produces a range of bakery and other food products under the Sara Lee brand, including frozen desserts, super premium ice cream, frozen savoury meals, and pastries.
McCain Foods (Aust) is a producer of frozen potato products, vegetables, dinners, pizza and frozen fruit for both the retail and foodservice sectors.
The Hillshire Brands, formerly known as Sara Lee, focuses on meat-centric food products and foodservice operations and offers several consumer brands, such as Jimmy Dean, Hillshire Farm, Ball Park, Aidells, Gallo Salame and State Fair.
