Sara Lee to focus on food and beverages in the future
16 December 2009 00:00 in Pharmacy Supplier News
Sara Lee intends to place an increased focus on the beverage and food markets in the future, its chairman and chief executive officer has announced.
Brenda Barnes made her remarks after the company confirmed that it has received a binding offer from the Procter & Gamble Company to purchase its air care business.
The division is being sold for a total of 320 million euros (286.37 million pounds) and accounts for roughly 11 per cent of the adjusted operating segment income for the company's international household and body care business.
Where permissible, the company has agreed to accept the offer, based on the fulfilment of certain criteria.
Mr Barnes said: "The proposed sale of our air care business is the next step in our plan to focus on our core food and beverage businesses, where we have a strong, competitive position and can generate superior shareholder returns."
Last month, the organisation announced that it has appointed Anne Teague as its chief information officer.
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