Sara Lee expects to complete the spin-off of its international Coffee & Tea business by the end of June 2012. Post spin-off, the Coffee & Tea business will be domiciled as a new publicly traded company incorporated in the Netherlands.

“With over 250 years of history, the Coffee & Tea business has solid market positions and deep roots in many European markets,” says Sara Lee executive chairman Jan Bennink. “Domiciling Coffee & Tea in the Netherlands allows management to be close to its key Western European markets and effectively manage its global portfolio.”

The Coffee & Tea business intends to move its operating headquarters from Utrecht to Amsterdam in the second half of calendar year 2012. Amsterdam was chosen as the location for the new headquarters in the Netherlands due to its central location and accessibility to an international labour market.

As a consequence of the spin-off, Sara Lee expects to release approximately $700 million of deferred tax liabilities currently on its balance sheet. At the time of the spin-off, Sara Lee now expects to have total debt of approximately $1.7 billion and approximately $300 million in cash.

Coca-Cola Enterprises, the world’s largest bottler of Coca-Cola products which will soon be focused purely on some of the largest but also most mature soft drinks markets in Western Europe, is optimistic about the long-term growth prospects for this territory. The group aims to achieve in currency neutral terms: revenue growth of 4% to 6%; operating income growth of 6% to 8%; earnings per share growth in a high single-digit range; and return on invested capital improvement of 20 basis points or more per year.

“These metrics reflect the solid growth opportunity that lies ahead in Europe,” says John Brock, chairman and chief executive of Coca-Cola Enterprises. “They exceed our current long-term objectives. We are committed to these financial objectives, and in turn, to creating real value for our shareowners, our customers, and our employees.”

CCE currently sells approximately 80% of The Coca-Cola Company’s bottle and can volume in North America. However, once it has completed the sale of this business to Coca-Cola, CCE will be left as the sole licensed Coca-Cola bottler in Great Britain, Belgium, continental France, Luxembourg, Monaco, and the Netherlands. The disposal of the North American operations is on track for completion in the fourth quarter of 2010.

For its 2010 financial year, CCE expects, on a comparable and currency neutral basis, Europe to achieve high single-digit to low double-digit operating income growth, while operating income in North America is expected to grow at a mid to high single-digit rate. Also, on a comparable and currency neutral basis, the company now expects Europe to achieve mid single-digit revenue growth, while in North America revenue is expected to be approximately flat.

Private equity firms Blackstone Group and PAI Partners are reported to be seeking to sell British and international biscuits and snacks manufacturer United Biscuits for £2b or more. In 2009, United Biscuits increased EBITDA by 13.7% to £223.4m on turnover up 5% to £1.26b.

United Biscuits is one of the world’s leading branded biscuits and snacks businesses. The group’s products range from biscuits and crackers to cakes and savoury snacks and its portfolio of brands includes McVitie’s, Jacob’s, Carr’s, McCoy’s, Hula Hoops, McVitie’s Jaffa Cakes, KP, Mini Cheddars, go ahead!, Verkade, Sultana, BN, and Delacre.

United Biscuits holds leading or strong number two positions in its core markets of the United Kingdom, the Netherlands, France, Belgium and Ireland. Moreover its brands and products have global appeal, and the group’s rapidly growing international business unit serves consumers from North America to the Middle East, Africa, and Australia.

The sale process is due to begin in the autumn and to be concluded early next year. Blackstone Group and PAI Partners acquired United Biscuits for £1.6b four years ago.