Today, The Hillshire Brands Company announced that it has signed a definitive agreement to purchase Golden Island jerky products. The terms of the agreement were not disclosed while the transaction had been expected to be completed by the end of September 2013.
According to The Hillshire Brands Company CEO Sean Connolly, "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. This highly appealing category generates retail sales of more than $2 billion annually and has had 10 percent volume growth over the past two years."
Golden Island would become a part of Hillshire Brands' Gourmet Food Group. The former would be paired with high-end brands like Aidells and Gallo. Hillshire Brands Gourmet Food Group would be run by Sally Grimes as president. Grimes had also served as the company's senior vice president and chief innovation officer.
Golden Island Jerky was established more than 50 years ago. The company uses all natural ingredients with no preservatives and less sodium content in its products.
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