By Julie Wernau | Downers Grove-based consumer products giant Sara Lee will sell its 51
percent stake in Indian food company Godrej, according to a release from
Sara Lee. The joint venture, called Godrej Sara Lee, primarily markets
insecticides in India. Sara Lee will sell its stake for $234 million.

Brenda Barnes, chairman and chief executive of Sara Lee Corp., said the
sale is part of the company’s strategy to focus on its core food and
beverage businesses. The company has also received offers from Unilever
for its body care business for 1.275 billion euros ($1.61 billion) and
from P&G for its air care business for 1.780 billion euros ($2.26
billion). The company said it has also seen “strong interest” in other
segments of its international household and body care business that it
wishes to divest — shoe care, non-Indian insecticides and certain
non-European cleaning brands.

Godrej accounts for about nine percent of the adjusted operating segment income for the international household and body care business segment of Sara Lee. The deal is expected to close before the end of Sara Lee’s fiscal year on July 3.