This transaction fits into ConAgra Foods' acquisition strategy, which seeks to add depth and strength to its existing product lines in key strategic pillars such as convenient meals, snacks and meal enhancers.
The Chief Executive Officer will be responsible for managing the day-to-day operations of the business and focus on driving consistent, profitable growth across all of Jarden's business segments.
With the company's successful financial restructuring and subsequent integration with JBS USA now largely complete, the timing seemed right for an executive transition.
The addition of drugstore.com's online business across its health, personal care, beauty and vision categories is expected to better position Walgreens as the most convenient multi-channel retailer of health and daily living needs in America.
This acquisition expands Sara Lees presence into the organic and natural meats segments, while also increasing Sara Lees coverage of fast growing retail channels, such as club stores and organic grocers.
The merger creates a larger business with a complementary portfolio of high-quality bakery products and deepens Flowers' penetration of the estimated $4 billion U.S. snack cake category.
