Stinson Leonard Street Represents Hillshire Brands Company in Transaction
Stinson Leonard Street LLP advised Hillshire Brands Company (NYSE: HSH), a leader in branded foods, in a transaction announced today by Hillshire Brands and Catterton Partners, the leading consumer-focused private equity firm. The announcement was that Hillshire Brands has signed a definitive agreement to acquire Catterton portfolio company Van’s Natural Foods.
Van’s is a leading better-for-you food brand that delivers great taste, nutrition, simple/clean ingredients and all-family appeal across multiple product lines in frozen breakfast and snack foods. The transaction reinforces and strengthens Hillshire Brands’ presence in frozen category, and facilitates its extension into additional categories.
Hillshire Brands will pay $165 million for Van’s, which is expected to have net revenues of approximately $60 million in calendar year 2014. The transaction is expected to close in May of 2014 pending regulatory clearance.
Hillshire Brands and Catterton Partners issued a news release on Monday, April 21, 2014, with additional details concerning the transaction.
Stinson Leonard Street serves as legal advisor to Hillshire Brands in the transaction. The firm's team of attorneys involved in the deal includes the following partners: Jim Allen, Ben Hobert, Phil McKnight, Scott Claassen, Kyle Foote and Tim Feathers. Also on the team is associate Jennifer Moyer. Centerview Partners served as financial advisor to Hillshire Brands. Houlihan Lokey served as financial advisor and Gibson Dunn & Crutcher served as legal advisor to Van’s in connection with the transaction.