Sara Lee Corporation Sara Lee Agrees to Sell Its North American Refrigerated Dough Business to Ralcorp Frozen Bakery Products...
09 August 2011 - 1:10PM
UK Regulatory
TIDMSRL
Sara Lee Corp. (NYSE: SLE) announced today it has signed an
agreement to sell its North American Refrigerated Dough business to
Ralcorp Frozen Bakery Products, Inc., a division of Ralcorp
Holdings, Inc. (NYSE: RAH) for $545 million. The transaction is
anticipated to close by the end of calendar year 2012.
In May 2011, Sara Lee Corp. announced that it was evaluating
strategic options for this business, which provides a full range of
private brand products including basic and specialty biscuits,
crescent rolls, pizza and pie crusts and toaster pastries. These
products are packaged for and sold to leading food and mass
retailers.
"The sale of our North American Refrigerated Dough business to
Ralcorp is another step forward for Sara Lee as we continue to
prepare for our separation into two publicly-traded companies,"
said Marcel Smits, chief executive officer, Sara Lee Corp. "It will
better enable our North American business to focus on its branded
meats and frozen desserts products and establish a platform for a
strong and independent future."
Sara Lee's North American Refrigerated Dough business employs
approximately 700 people and includes manufacturing facilities in
Forest Park, Ga. and Carrollton, Tex. The business generated
revenues in excess of $300 million in fiscal 2010.
About Sara Lee Corporation
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. In January, 2011,
Sara Lee Corp. announced that it will divide the company into two
pure play publicly-traded companies. One company will be focused
around the current International Coffee and Tea business, while the
other company will be focused on the North American Retail Meats
and North American Foodservice businesses. For more information on
this news, and on Sara Lee's brands, please visit
www.saralee.com.
About Ralcorp Holdings, Inc.
Ralcorp produces Post branded cereals, a variety of value brand
and store brand foods sold under the individual labels of various
grocery, mass merchandise and drugstore retailers, and frozen
bakery products sold to in-store bakeries, restaurants and other
foodservice customers. Ralcorp's diversified product mix includes:
ready-to-eat and hot cereals; nutritional and cereal bars; snack
mixes, corn-based chips and extruded corn snack products; crackers
and cookies; snack nuts; chocolate candy; salad dressings;
mayonnaise; peanut butter; jams and jellies; syrups; sauces; frozen
griddle products including pancakes, waffles, and French toast;
frozen biscuits and other frozen pre-baked products such as breads
and muffins; frozen dough; and dry pasta. For more information
about Ralcorp, visit the Company's website at www.ralcorp.com.
Sara Lee Corp.
Media:
Mike Cummins, +1.630.598.8412
or
Analysts:
Melissa Napier, +1.630.598.8739
Sara Lee Corp (LSE:SRL)
Historical Stock Chart
Von Okt 2024 bis Nov 2024
Sara Lee Corp (LSE:SRL)
Historical Stock Chart
Von Nov 2023 bis Nov 2024
