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Article: Sara Lee Corporation To Acquire Earthgrains for $2.8 Billion; Becomes Number-two Player in Fresh Bread Category.
- Article from:
- Business Wire
- Article date:
- July 2, 2001
CopyrightCOPYRIGHT 2001 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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Business Editors
CHICAGO--(BUSINESS WIRE)--July 2, 2001
With addition of Earthgrains, Sara Lee's largest acquisition to
date, company gains a premier direct-store distribution system to
leverage the Sara Lee brand
Sara Lee Corporation announced today that it has signed an agreement for the acquisition of St. Louis-based The Earthgrains Company for $40.25 per Earthgrains share, payable in cash. The total value of the acquisition, including the assumption of Earthgrains' outstanding debt, is $2.8 billion. With the acquisition of Earthgrains, Sara Lee more than quadruples its annual bakery sales to become the nation's ...