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DOWNERS GROVE, Illinois (Profitable.com) Sara Lee Corp. (NYSE: SLE) today announced it has completed the sale of its global Body Care and European Detergents businesses to Unilever for Euro 1.21 billion.
“The divestiture of our Body Care and European Detergents businesses further enables us to concentrate our efforts in key areas where we have a strong competitive position and can generate significant shareholder value,” said Marcel Smits, interim chief executive officer of Sara Lee Corp. “We remain focused on aggressively driving growth in our core coffee and protein categories.”
This transaction is a part of Sara Lee’s ongoing process of divesting its Household and Body Care businesses. In addition to today’s transaction, the company has announced and closed transactions for its air care business (sold to Procter & Gamble for Euro 320 million) and its stake in the Indian insecticides joint venture Godrej Sara Lee (sold to Godrej for Euro 185 million). In addition, Sara Lee announced the pending sale of its non-Indian insecticides business to SC Johnson for Euro 153.5 million, That deal is anticipated to close by the end of calendar year 2010.
Sara Lee has received significant interest in the remainder of its household business, primarily shoe care and Asian cleaning brands, and is continuing to pursue divestiture options for this business.
About Sara Lee
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 $11 billion in annual net sales. Sara Lee has approximately 33,000 employees in its continuing operations worldwide. Please visit http://www.saralee.com for news and in-depth information on Sara Lee and its brands.