DOWNERS GROVE, Ill. – Sara Lee Corp. today provided an update on its agreement to sell its North American Fresh Bakery business to Grupo Bimbo (BMV: BIMBO). The deal was originally announced in November 2010.
Sara Lee confirmed that the companies are finalizing discussions with the U.S. Department of Justice. Sara Lee also confirmed it is confident that the transaction will close in the coming weeks.
About Sara Lee Corporation
Each and every day, Sara Lee (NYSE: SLE) delights millions of consumers and customers around the world. The company has one of the world’s best-loved and leading portfolios with its innovative and trusted food and beverage brands, including Ball Park, Douwe Egberts, Hillshire Farm, Jimmy Dean, Sara Lee and Senseo. Collectively, our brands generate nearly $9 billion in annual net sales from continuing operations. Sara Lee has approximately 20,000 employees in its continuing operations worldwide. In January, 2011, Sara Lee Corp. announced that it will divide the company into two pure play publicly-traded companies. One company will be focused around the current International Coffee and Tea business, while the other company will be focused on the North American Retail Meats and North American Foodservice businesses. For more information on this news, and on Sara Lee's brands, please visit www.saralee.com.
Source: Sara Lee