Kohlberg sells Van's Foods brand (assets of Sara Lee Frozen Bakery, LLC) to Cal-Maine Foods

Sara Lee Frozen Bakery is narrowing its focus to core frozen bakery brands with the sale of the Van’s Foods label to Cal-Maine Foods, a deal that moves the number-one gluten-free waffle business to a new prepared foods platform and gives private equity firm Kohlberg & Company an exit from the frozen breakfast category.

position in gluten-free waffle sales and competes in the better-for-you frozen breakfast segment.

Its portfolio spans frozen waffles and pancakes in gluten-free, protein-enhanced, and whole-grain varieties, marketed to consumers seeking clean-label, allergy-conscious options.

Cal-Maine expects the acquisition to raise its prepared foods annual revenue by roughly 10% and volume by about 6% on a pro forma basis.

The company outlined plans to use its scale to improve cost efficiency and supply reliability, deploy its distribution network to widen retail and direct-to-consumer reach, cross-sell to overlapping customers, and combine R&D efforts to accelerate protein-forward product innovation.

President and CEO Sherman Miller called Van’s highly complementary and noted opportunities to drive growth and serve customers through innovation.

Cal-Maine, based in Ridgeland, Mississippi, is the largest U.S. egg company and markets prepared foods under brands that include Eggland’s Best, Land O’Lakes, Farmhouse Eggs, and Crepini.

Van’s will continue to operate under its existing identity, with Cal-Maine providing resources to scale operations and expand market access.

Sara Lee Frozen Bakery, headquartered in Oakbrook Terrace, Illinois, produces frozen bakery and dessert products for foodservice and retail under the Sara Lee, Chef Pierre, and Bistro Collection brands.

Kohlberg, located in Mount Kisco, New York, manages roughly $17 billion in capital.