Tyson Bids $6.8 billion for Hillshire and More Industry News

A roundup of this week’s food industry financial news
Tyson Foods, Inc. bid $6.8 billion for acquisition of Hillshire Brands Co. two days after Pilgrim’s Pride Corp. offered $6.4 billion for the company.

This week in industry news, Tyson Foods, Inc. bid $6.8 billion for acquisition of Hillshire Brands Co. two days after Pilgrim’s Pride Corp. offered $6.4 billion for the company, Cracker Barrel’s profit rose 16.8 percent, and Ed Rensi was named the new CEO of Famous Dave’s of America Inc.

Read on for more of this week's biggest financial news in the world of food.

Earnings

Cracker Barrel Old Country Store Inc.: In the third quarter, the company’s profit rose 16.8 percent despite a 0.6 percent fall in same-store sales.

Photo Credit: Flickr/Daniel Oines

Popeyes Louisiana Kitchen Inc.: The company’s profit rose 10.9 percent in the first quarter.

 

Leadership Change

Famous Dave’s of America Inc.: Ed Rensi was named the company’s new CEO, following his three-month stint as interim CEO.

Real Mex Restaurants: The company promoted Rio Gueli from executive vice president of operations to chief operating officer.

Einstein Noah Restaurant Group Inc.: Chief operating officer Emanuel Hilario will resign from his position in order to explore new opportunities.

 

Mergers/Acquisitions

Hillshire Brands Co.: After Pilgrim’s Pride Corp. offered $6.4 billion to acquire Hillshire Brands Co. two days earlier, Tyson Foods, Inc. bid $6.8 billion for acquisition of the company.

Photo Credit: Facebook/Noodles & Company

Noodles & Company: The company will acquire 16 franchised restaurants for about $13.4 million.

Tony’s Fine Foods: United Natural Foods, Inc. will acquire Tony’s Fine Foods for approximately $195.3 million.

Miller Milling: The company has acquired four flour mills from two different buyers, totaling a transaction cost of about $215 million and making Miller Milling the fourth largest milling company in the U.S.

Canada Bread Co. Ltd: Grupo Bimbo completed its acquisition of the company.

Aimia Foods Ltd.: Cott Corp. acquired Aimia Foods Ltd. for $133 million.

 

Have the inside scoop on a merger or acquisition? Know of a new advertising campaign around a new iconic product? We’re always looking to get ahead of the game, so email us your tips.

Haley WIllard is The Daily Meal's assistant editor. Follow her on Twitter @haleywillrd.

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