date:Dec 20, 2012
The Hillshire Brands Co. has signed an agreement to sell 100% of the shares of its Australian subsidiary Kitchens of Sara Lee Pty Ltd. to a subsidiary of McCain Foods Ltd., for approximately $85 million in cash.
Hillshire reports the Kitchens of Sara Lee business as the Australian Bakery business. Also included in the transaction are license rights to certain intellectual property used in the Australian Bakery business in the Asia-Pacific region.
The transaction is expected to close in the fi