--Sara Lee names international coffee and tea company 'D.E
Master Blenders 1753'
--Names Harm-Jan van Pelt chief operating officer, rest of world
division
--Names Eugenio Minvielle chief operating officer, developed
markets division
(Adds details about international coffee and the tea company's
new corporate name.)
Sara Lee Corp. (SLE) named its international coffee and tea
company D.E Master Blenders 1753 and appointed insider Harm-Jan van
Pelt and former Unilever PLC (UL, ULVR.LN) executive Eugenio
Minvielle as chief operating officers to lead the business, which
is being spun off later this year.
The packaged-food company said Douwe Egberts is one of the
best-selling brands in Europe and the D.E Master Blenders 1753 name
reflects the company's heritage while emphasizing its future.
"With a brand that is beloved worldwide and has been for
centuries, this new name and brand identity is the logical next
step in our strategy," said International Beverage Chief Executive
Michiel Herkemij in a release.
Once the spinoff is completed, the company plans to launch an
aggressive global campaign to promote the new company.
Earlier Wednesday, Sara Lee said Van Pelt will oversee the
business in eastern Europe, Australasia and Latin America. His
appointment becomes effective April 30, and he will continue as
chief operating officer rest of world once the international coffee
and tea business is spun off.
Van Pelt, 49 years old, joined Sara Lee in 1998 and is a member
of the company's executive committee. He has held a number of
international marketing and general management roles in both the
household and body care business and the coffee and tea
business.
Minvielle, 47, was previously chief executive of North America,
overlooking Unilever's operations in the U.S., Canada and the
Caribbean. Sara Lee said he has more than 20 years of experience in
the consumer packaged goods industry, primarily in the coffee
industry.
Minvielle will be chief operating officer of Sara Lee's
international coffee and tea developed markets division, primarily
focused on Western Europe, and a member of the executive
committee.
Once a hodgepodge of household products and food brands, Sara
Lee has worked to sell off businesses and narrow its focus over the
past few years. The company is also in the process of splitting
apart, separating into an international coffee and tea business and
a North American business that includes the Jimmy Dean and
Hillshire Farms brands.
The company reported last month its fiscal second-quarter
earnings fell 44% on charges as an 11% jump in coffee and tea
segment sales contributed to a 6.3% revenue increase.
Shares recently traded 11 cents lower at $21.43.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283;
melodie.warner@dowjones.com