Feb. 22 at 2:35 p.m.
Filed under:
Beverages,
Food,
Packaged foods
By Emily Bryson York
Sara Lee may be breaking up, but company executives say that will make it much more focused on the business in which it competes.
Chief Executive Marcel Smits laid out Sara Lee’s plans at the Consumer Analysts Conference of New York Tuesday morning to take share from Nestle, the international leader in single-serve coffee.
Single-serve, made from individual pouches brewed in specialized machines, has become the latest battleground for the coffee industry. Starbucks, Dunkin’ Donuts, Green Mountain Coffee Roasters and even retailers such as Wal-Mart are expected to play a crucial role in the U.S. battle. Get the full story »
By Emily Bryson York
Sara Lee desserts in a grocer's freezer. (AP)
Downers Grove-based food maker Sara Lee announced Friday that it will divide itself two publicly-traded companies. The plan, which has been approved by Sara Lee’s board, divides the company into North American and European divisions. One company will focus on North American grocery and supplying products to the restaurant industry, and the other on European coffee, tea and bread.
In a call with investors, Marcel Smits, the company’s newly-appointed CEO, acknowledged that Sara Lee had received “unsolicited interest” in buying the company. He said that after a rigorous review, the company’s board determined that splitting the company was in shareholders’ best interest, adding that the individual companies are likely to do better on their own.
Sara Lee will issue a $3 special dividend to shareholders as part of the split. Get the full story »
Dec. 28, 2010 at 4:12 p.m.
Filed under:
Food,
M&A
By Reuters
Sara Lee said it agreed to sell its White King and Janola cleaning products business to Australia-based detergent maker Symex Holdings for 37.9 million euros ($49.7 million).
The deal brings Sara Lee closer to its goal of focusing on selling food, coffee and tea.
Sara Lee, which has already spun off its body care, air care businesses and its stake in a joint venture with India’s Godrej, expects the deal with Symex to close during the first quarter of 2011. Get the full story »
Dec. 6, 2010 at 10:09 a.m.
Filed under:
Food,
International,
M&A
By Associated Press
Sara Lee Corp. has completed the $1.6 billion sale of its body care and European detergent segments to Unilever NV, the food company said Monday. Get the full story »
Sep. 14, 2010 at 5:09 p.m.
Filed under:
Food,
Jobs/employment,
Layoffs,
Updated
By Emily Bryson York
At its annual Meet the Management Analyst Day in New York Tuesday, Sara Lee presented itself as holding company-turned operating company with a string of successes in growing, high-margin businesses and a handful of struggling ones in need of work.
The maker of Hillshire Farm sausage and Senseo coffee touted them its biggest successes — North American meats and European coffee — and laid out cases for fixing its problem areas, including International Bakery, North American Bakery and North American Foodservice. Get the full story »
