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Tyson Finds New Private-Equity Owner for Sara Lee, Van's

Private-equity firm Kohlberg & Co. is buying Tyson Foods Inc.’s Sara Lee frozen bakery and Van’s waffle businesses, and plans to put former Sara Lee official C.J. Fraleigh in charge of the operations. The deal, expected to close in the fourth quarter, falls in line with Tyson’s plans to narrow its focus on its protein brands. The deal with Kohlberg includes a license to use the Sara Lee brand in certain channels.

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