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Tyson to sell Sara Lee Frozen Bakery, Van's businesses to buyout firm

Tyson Foods Inc. agreed to sell its Sara Lee Frozen Bakery and Van's businesses to private equity firm Kohlberg & Co. LLC

The deal includes the Chef Pierre, Bistro Collection and Van's brands as well as permission to use the Sara Lee brand in certain channels. Food preparation facilities in Tarboro, N.C., and Traverse City, Mich., along with a sales office in Canada are also included in the sale.

Workers at the facilities and the sales office, a total of 1,160 employees, are expected to keep their positions.

Rothschild & Co. provided financial advice to Tyson Foods. The financial details of the transaction were not disclosed.