The deal will give
Hillshire will expand its product offering by including frozen foods brand Hungry Man, increasing its presence in grocery aisles. The combined company will be run by Hillshire CEO
"The acquisition creates a leading branded food company with enhanced scale, reach, and capabilities, while providing margin expansion," said Connolly.
The new company is expected to save
The deal was approved by the boards of both companies and will be completed by September.
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