DOWNERS GROVE, Ill. — Sara Lee Corp. has completed the sale of its global body care and European detergents businesses to Unilever for 1.21 billion euro ($1.6 billion U.S.).
"The divestiture of our body care and European detergents businesses further enables us to concentrate our efforts in key areas where we have a strong competitive position and can generate significant shareholder value," stated Marcel Smits, interim chief executive officer of Sara Lee. "We remain focused on aggressively driving growth in our core coffee and protein categories."
Sara Lee said Monday that the transaction is a part of its ongoing process of divesting its household and body care businesses.
The company also has announced and closed transactions for its air care business (sold to Procter & Gamble for 320 million euro) and its stake in the Indian insecticides joint venture Godrej Sara Lee (sold to Godrej for 185 million euro). In addition, Sara Lee announced the pending sale of its non-Indian insecticides business to SC Johnson for 153.5 million euro in a deal that’s expected to close by the end of 2010.
Sara Lee added that it has received significant interest in the remainder of its household products business, primarily shoe care and Asian cleaning brands, and is continuing to pursue divestiture options for that business.
