Sara Lee Refocusing Continues With €320m Disposal
US-based food, household and body care products group Sara Lee has completed the sale of its air care operation to Procter & Gamble for Eur320m. The disposal is part of the divesture of Sara Lee’s household and body care business as it seeks to refocus on its global food and beverage activities.
Brenda Barnes, chairman and chief executive of Sara Lee.
To date, Sara Lee has completed the sale of its 51% stake in its Godrej Sara Lee joint venture to Godrej Consumer Products for a total consideration of Eur185m. In addition, Sara Lee expects to close the sales of its global body care and European detergents businesses to Unilever and its remaining insecticides business to SC Johnson by the end of 2010.
This will leave Sara Lee focused on five businesses – North American Fresh Bakery, North American Retail, North American Foodservice, International Beverage and International Bakery.
