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 »
Nov. 9, 2010 at 9:26 a.m.
Filed under:
Food,
Packaged foods,
Updated
By Associated Press
A shopper passes shelves of Sara Lee bread at a Chicago market . (AP Photo/M. Spencer Green)
Sara Lee Corp. is selling its North American Fresh bakery unit to baking company Grupo Bimbo for $959 million as it looks to concentrate more on its coffee and meat businesses.
The Downers Grove-based maker of Jimmy Dean sausages and Sara Lee breads said Tuesday that the sale will allow it to aggressively expand other businesses through acquisitions and other means. Get the full story »
Nov. 8, 2010 at 11:49 a.m.
Filed under:
Food,
M&A,
Packaged foods,
Updated
By Reuters
A deal whereby Sara Lee Corp sells its North American bakery business to Mexico’s Grupo Bimbofor $900 million to $1 billion could be announced this week, Bloomberg reported Monday, citing two people with knowledge of the matter. 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 »
Aug. 16, 2010 at 8:16 a.m.
Filed under:
Food
By Ameet Sachdev
Responding to concerns of parents, Sara Lee Corp. said Monday that it is removing high-fructose corn syrup from two of its best-selling breads. Sara Lee switched to sugar in its “Soft & Smooth” made with whole grain white bread and 100 percent whole wheat bread. Get the full story »
July 21, 2010 at 2:02 p.m.
Filed under:
Food
By Reuters
Campbell Soup Co. is not interested in buying on Sara Lee Corp.’s bread business, sources familiar with the situation said on Wednesday, countering media reports that the soup company may bid for the asset. Get the full story »
July 20, 2010 at 2:11 p.m.
Filed under:
Food,
M&A
By Emily Bryson York
Sara Lee is shopping its iconic bread business, according to executives familiar with the matter. The company may have even relied on company employees to begin the search for possible buyers, sidestepping tried-and-true investment banks, which often results in media attention. Get the full story »
