Sara Lee Corp. says Hillshire Brands Co. is the new name for its North American business that will be spun off later this month. The food and beverage company says that Sean Connolly current the CEO of Sara Lee North American Retail & Foodservice, will become the chief executive of Hillshire Brands.
Sara Lee, which acquired the Hillshire Farm brand in 1971, says the Hillshire Brands name represents its strong heritage and its "ambitions for growing our portfolio of iconic brands in the future."
After the spinoff, Hillshire Brands' foodservice division will continue to be known as Sara Lee Foodservice.
Once a hodgepodge of household products and food brands, Sara Lee has been selling off businesses and narrowing its focus over the past few years. On June 28, the company will separate into two publicly traded companies: an international coffee and tea company to be named D.E Master Blenders 1753 and a North American business that includes the Jimmy Dean and Hillshire Farm brands. Last month, Sara Lee unveiled plans for a 1-for-5 reverse stock split and a special dividend after the spinoff of its international coffee and tea business is complete.