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Article: Sara Lee Corporation Announces Sale of Its U.S. Retail Coffee Business to Segafredo Zanetti.
- Article from:
- Business Wire
- Article date:
- October 26, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHICAGO -- Sara Lee Corporation (NYSE:SLE) announced today that it has signed an agreement to sell its U.S. Retail Coffee business to Italy-based Segafredo Zanetti Group for $82.5 million. In February 2005, Sara Lee identified the U.S. Retail Coffee business, which manufactures and markets roast & ground and instant coffee products to retail customers throughout the United States and Canada, as a business that would be sold as part of the company's transformation.
The transaction is expected to close by the end of December 2005, subject to regulatory approvals and other customary closing conditions. The U.S. Retail Coffee business, which generated approximately ...