Hormel Foods Corporation has entered into a definitive agreement to acquire the Country Crock chilled side dish line from Unilever United States Inc of Englewood Cliffs NJ. The transaction is expected to close by February 2010; terms were not disclosed.
The Country Crock chilled side dish line consists of 10 varieties of refrigerated, microwaveable, multi-portion, potato-/pasta-based side dish products. First introduced in 2004, the line is a strong player in the refrigerated side dish segment.
“The acquisition of Country Crock microwaveable, refrigerated side dishes represents a significant opportunity for Hormel Foods to advance its participation in the growing segments of convenient meals and side dishes,” said Jeffrey M Ettinger, chairman of the board, president, and chief executive officer at Hormel Foods.
Hormel currently manufactures and sells microwaveable main dishes including Hormel refrigerated entrees and Lloyd’s prepared entrees, consisting primarily of meat or poultry.
The company was advised in this transaction by Centerview Partners LLC.
Based in Austin MN, Hormel is a multinational manufacturer and marketer of consumer-branded food and meat products. For more information, visit www.hormelfoods.com.
