Frozen Foods

General Mills is tapping into the latest consumer-driven food trends with its new lineup of more than 150 product innovations launching this summer.

Following the conclusion of the bidding process, Tyson Foods submits unilaterally binding offer to acquire Hillshire Brands for $8.55 billion in cash.

This new proposal comes just days after Tyson Foods Inc.'s competing offer for Hillshire, which exceeded Pilgrim's Pride's initial offer of $6.4 billion at a total value of $6.8 billion.

Valued at $6.8 billion, the deal is another alternative to a recently proposed offer from Pilgrims Pride, and is also subject to the termination of Hillshire's previous merger agreement with Pinnacle.

Previously at Schwans, the exec helped revitalize the pizza business by repositioning iconic brands like Red Baron and Freschetta, including launching new advertising and bringing consumer driven innovation.

This announcement comes after a pending agreement for Hillshire to acquire Pinnacle Foods for $6.6 billion.

On a combined basis, the companies are expected to have leading positions in key frozen, refrigerated and center of store grocery categories.

The new President takes over the role from Frank van Schaayk, who is retiring next October.