SRL Sara Lee Corp

 
TIDMSRL 
 
 

Sara Lee Corp. (NYSE: SLE) today announced that it has completed its sale of its global shoe care business, in a majority of countries, to SC Johnson. The global shoe care business is comprised of the brands Kiwi, KiwiKleen, Tana and Bama, among others. The sale will close in the remaining jurisdictions pending certain conditions. The deal was originally announced on Dec. 31, 2010, with a binding offer from SC Johnson of EUR245 million.

This transaction is a part of Sara Lee's process of divesting its Household and Body Care businesses. In addition to today's transaction, the company has announced and closed transactions for its stake in the Indian insecticides joint venture Godrej Sara Lee (sold to Godrej for EUR185 million), its air care business (sold to Procter & Gamble for EUR320 million), its body care and European detergents businesses (sold to Unilever for EUR1.21 billion) and its WhiteKing and Janola brands (sold to Symex for EUR38 million). In addition, Sara Lee announced the pending sale of its non-Indian insecticides business to SC Johnson for EUR153.5 million.

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 $9 billion in annual net sales from continuing operations. Sara Lee has approximately 20,000 employees in its continuing operations worldwide. Please visit www.saralee.com for the latest news and in-depth information about Sara Lee and its brands.

 
Sara Lee Corp. 
Media: Alissa Bolton, +1.630.598.8123 
Analysts: Melissa Napier, +1.630.598.8739 
 
 
 
 
 

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