Tyson Foods enters into agreement to sell Sara Lee frozen bakery and Van's businesses
Tyson Foods, Inc. has entered into an agreement to sell its Sara Lee Frozen Bakery and Van’s businesses to private equity firm Kohlberg & Company, the company announced.
The sale includes the Chef Pierre, Bistro Collection and Van’s brands, and a license to use the Sara Lee brand in certain channels. The deal also includes the sale of the company’s Tarboro, N.C. and Traverse City, Mich. prepared foods facilities and a sales office in Canada. The 1,160 team members employed at the two facilities and sales office are expected to keep their positions with the new company.