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Article: Sara Lee gets three in one Market Share, distribution, fresh products key ingredients in purchase of Earthgrains

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Chicago Sun-Times
Article date:
July 3, 2001
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Sara Lee Corp. made the biggest acquisition in its 61-year history Monday, buying Earthgrains Co. of St. Louis for $2.8 billion in cash and debt.

Earthgrains is a three-fer: It will make Chicago-based Sara Lee the second-largest U.S. maker of fresh bread; expand Sara Lee's product offerings with a new line of refrigerated doughs, and enable Sara Lee to boost the visibility of new and existing products in grocery stores through Earthgrains' national direct-store distribution system.

The acquisition also will enhance Sara Lee's ability to boost sales of new products, such as an as-yet-unspecified fresh-as opposed to frozen-dessert, Sara Lee President and CEO Steve McMillan said Monday. The ...

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