Sara Lee Corp (SLE.N) took another step in preparing the company for its coming split-up, saying on Thursday it may get out of two more businesses, and its shares rose 1.7 percent.
The news came as the meat and coffee maker and Fortune Brands Inc (FO.N), another consumer products maker planning to split up, forecast earnings growth that shows how hard commodity costs are hurting them.
Sara Lee, which sells Jimmy Dean sausages and Hillshire Farm lunch meat, said it was weighing strategic options for its international bakery business, which includes Bimbo bread in Spain, and its North American refrigerated dough business, which makes store-branded baked goods.
"We are looking at the business, whether it really fits," said Sara Lee executive chairman Jan Bennink.
Sara Lee also agreed to buy Aidells Sausage Co for $87 million, which will expand its portfolio of premium and natural meats and presence in stores like Whole Foods Market Inc (WFMI.O) and Costco Wholesale Corp (COST.O).
To read the rest of the story, please go to: Reuters