DOWNERS GROVE, Ill. — Sara Lee Corp. has completed the sale of its 51% stake in its Godrej Sara Lee joint venture to Godrej Consumer Products Ltd. in a deal valued at 185 million euros ($230 million U.S.).
Sara Lee Corp. has completed the sale of its 51% stake in its Godrej Sara Lee joint venture to Godrej Consumer Products Ltd. in a deal valued at 185 million euros ($230 million U.S.).
Godrej Sara Lee is the market leader in the Indian household insecticides category and has a strong presence in the air care, shoe care and male hair care markets.
Sara Lee stated that the transaction is part of the company’s strategy to sell its international household and body care segment. The company said that it continues to anticipate closing the sale of its global body care and European detergents businesses to Unilever by the end of the calendar year 2010, and closing the sale of its air care business to Procter & Gamble Co. shortly after the end of the fiscal year in July. Both transactions are subject to customary closing conditions.
Sara Lee’s portfolio of brands includes Ambi Pur, Ball Park, Douwe Egberts, Hillshire Farm, Jimmy Dean, Kiwi, Sanex, Sara Lee and Senseo. Collectively, these brands generate almost $13 billion in annual net sales covering approximately 180 countries.
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