Sara Lee sale
12 Aug 2005
The direct selling business, which markets cosmetics, skin care products, fragrances, toiletries and clothing in 18 countries, had been identified by Sara Lee as a business that would be sold as part of its Transformation plan, which was announced in February 2005.
"This divestiture is another key step in simplifying our organisation and concentrating on driving growth in our core food, beverage and household products businesses," said Brenda C. Barnes, president and chief executive officer of Sara Lee Corporation.
The transaction has been approved by both companies' boards of directors and is expected to close in the second quarter of 2006, subject to regulatory approvals and other customary closing conditions.
Sara Lee's direct selling operations, including Avroy Shlain, House of Fuller, House of Sara Lee, NaturCare, Nutrimetics, Nuvo Cosmeticos and Swissgarde, generated approximately $470 million in annual sales in 2005.
