Sara Lee Corp. (NYSE: SLE) announced today it has completed the sale of its fresh bakery business in Spain and Portugal to Mexico´s Grupo Bimbo S.A.B. de C.V. (BMV: BIMBO) for €115 million (approximately $155 million at current exchange rates) in cash. The agreement includes all Sara Lee fresh bakery brands in Spain and Portugal as well as seven manufacturing facilities.
In Oct. 2011, Sara Lee Corp. announced that it agreed to sell this business, which includes leading brands such as Bimbo, Martinez, Ortiz and Silueta. In fiscal 2011, the business generated net sales of $408 million. It employs approximately 2,000 people.
About Sara Lee Corporation
Sara Lee Corp. (NYSE: SLE) and it´s leading portfolio of food and beverage brands, including Ball Park, Douwe Egberts, Hillshire Farm, Jimmy Dean, Pickwick Teas, Sara Lee and Senseo, generate nearly $9 billion in annual net sales from continuing operations and employ approximately 20,000 people worldwide. In January, 2011, Sara Lee Corp. announced that it will divide the company into two pure -play publicly-traded companies, one focused on the international coffee and tea market and the other on North American meats. For more information on the company, please visit www.saralee.com.
