Jan. 24 at 6:01 a.m.
Filed under:
Food,
M&A,
Packaged foods
By Dow Jones Newswires-Wall Street Journal
Sara Lee Corp. will decide its future this week as it weighs offers from Brazilian beef processor JBS SA and a group led by private-equity firm Apollo Global Management LLC and investor C. Dean Metropoulos, people familiar with the matter said.
The private-equity group has submitted an offer for Sara Lee of between $18 and $19 a share and JBS, with the help of the Blackstone Group, has indicated it will bid soon, the people said. Apollo and Metropoulos, a Connecticut entrepreneur who acquired Pabst Brewing Co. last year, are leading a consortium that includes Bain Capital LLC and TPG Capital LP, the people said. Get the full story »
Dec. 21, 2010 at 6:11 a.m.
Filed under:
Food,
M&A,
Packaged foods,
Updated
By Reuters
In the past five years, Sara Lee Corp. once a hodgepodge of consumer brands, has narrowed its focus to food. But its businesses, which include Douwe Egberts coffee and Hillshire Farm deli meats, still have little in common, one reason the company has become a tempting takeover target.
Earlier this year, Sara Lee’s board rebuffed an approach by private-equity firm Kohlberg Kravis Roberts & Co. In recent weeks, it has been considering a sale of the company to Brazilian meat processor JBS SA, people familiar with the matter said. Get the full story »
Nov. 15, 2010 at 6:33 a.m.
Filed under:
Chicago executives,
Food,
Packaged foods
From the Chicago Sun-Times | Former Sara Lee CEO Brenda Barnes attended the Rehabilitation Institute of Chicago’s SkyRise event to give her two sons and daughters — part of Team Brenda — a medal for walking up 103 floors of the Willis Tower. “It’s been six months since my mom first had a stroke, and it’s been a long road for us,” Barnes’ daughter, Erin, said at the finish line. Get the full story >>
Sep. 16, 2010 at 4:26 p.m.
Filed under:
Corporate governance,
Earnings,
Food,
Packaged foods
By Associated Press
Brenda Barnes, the former chairman and CEO of Sara Lee Corp., received compensation valued at $11.5 million in the company’s most recent fiscal year, up 8 percent from the prior year, according to an Associated Press analysis of documents filed with regulators this week.
By Reuters
Sara Lee Corp. on Tuesday reaffirmed its 2011 financial outlook and said it is weighing external and internal candidates for its top job. Get the full story »
Aug. 12, 2010 at 10:53 a.m.
Filed under:
Earnings,
Food,
International,
Updated
By Emily Bryson York
Sara Lee swung to a profit during its fourth quarter on higher sales and cost cuts, with a net income of $192 million for the Downers Grove-based maker of Jimmy Dean sausage and Senseo coffee, up from an $11 million loss a year ago. Sales increased 4 percent to $2.77 billion for the fourth quarter. But the company fell short of analyst expectations by other measures, and shares fell in late morning trading.
“We delivered strong bottom line improvements, generally grew our market shares, reinvested in our brands and innovation to drive future results,” interim chief executive officer Marcel Smits said in a call with analysts. “And we did all of that in the face of recessions in most of our largest markets.” Get the full story »
Aug. 9, 2010 at 11:15 a.m.
Filed under:
Updated
By Emily Bryson York
Sara Lee CEO Brenda Barnes speaks at an event in 2007. (Tribune file photo)
Sara Lee CEO Brenda Barnes has decided to permanently step down from the company “to focus on improving her health.” Barnes, 56, took a leave of absence in May after suffering a stroke.
Sara Lee’s board has initiated a search for her replacement, looking at both internal and external candidates. For now, Marcel Smits will remain interim chief executive officer, Mark Garvey will continue as interim chief financial officer, and James S. Crown will remain chairman of the board.
“We fully support Brenda’s decision to step down as Chairman and CEO so she can devote all of her time and energy toward improving her health,” Crown said in a company statement. “She is a remarkable leader who is admired by those inside and outside of the Sara Lee family, and we fully understand and respect her decision.” Get the full story »
May 14, 2010 at 4:52 p.m.
Filed under:
Chicago executives,
Food
By Wailin Wong | Sara Lee Corp. made a surprise announcement Friday that Brenda Barnes, its chairwoman and chief executive, is going on a temporary medical leave effective immediately.
The Downers Grove-based food company declined to provide further information on Barnes’ condition or the expected length of her absence.
Get the full story »
