Around the Net
Sara Lee Sells Coffee Biz
- The Chicago Tribune , Tuesday, October 25, 2011 10:29 AM
Sara Lee Corp. plans to sell the majority of its North American foodservice coffee and tea business to The J.M. Smucker Company for $350 million. The sale is expected to close early next year.
"In recent years, our North American coffee business has been Foodservice-based and largely unbranded, which is a challenge in a highly competitive marketplace,” Sara Lee executive chairman Jan Bennink said in a statement. “Our decision to sell a major part of this business to Smucker is an example of Sara Lee Coffee and Tea's renewed focus on sustainable, profitable growth and part of our mandate to create the strongest possible pure-play company.”
