Hillshire Brands to Acquire Jerky Maker
CHICAGO (AP) — The Hillshire Brands Co. said Tuesday that it will acquire the maker of Golden Island jerky products.
The financial terms were not disclosed, and the deal is expected to close by the end of September.
Hillshire Brands said that the deal expands its portfolio of products and adds to its dried meat snacks category, which is a fast-growing segment. The company said it is a small acquisition and not expected to have a material impact on its earnings this fiscal year.
Golden Island Jerky, based in Cucamonga, Calif., makes gourmet jerky products using all natural ingredients with no preservatives and less sodium than most jerkies.
The Hillshire Brands Co., based in Chicago, owns a number of meat brands such as Jimmy Dean, Ball Park, Aidells, Gallo Salame and Hillshire Farm. It also owns the Sara Lee frozen bakery business.
Shares of Hillshire Brands added 4 cents to $32.35 in midmorning trading, in line with broader market trends. The stock has traded between $24.96 and $37.28 in the past 52 weeks.