The Hillshire Brands Co. has signed an agreement to acquire the maker of Golden Island jerky products, a leader in the gourmet jerky category. Terms were not disclosed, and the transaction is expected to close by the end of September 2013, pending closing conditions.
“We are excited to add Golden Island to our strong portfolio of brands, as it provides an entry point into the attractive dried meat snacks category,” said Sean Connolly, President and CEO, The Hillshire Brands Co. “This highly appealing category generates retail sales of more than $2 billion annually and has had 10% volume growth over the past two years.”
Golden Island will become part of Hillshire Brands’ Gourmet Food Group, pairing with brands like Aidells and Gallo. That group will be run by Sally Grimes, who, in addition to serving as Senior Vice President and Chief Innovation Officer, will assume the role of President, Hillshire Brands Gourmet Food Group.
Founded more than 50 years ago, the company’s Golden Island jerky brand uses all natural ingredients with no preservatives and less sodium than most jerkies.