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Sara Lee has continued its break-up with the sale of its North American coffee business for $350m (£218.6m) to JM Smucker. The deal comes as Sara Lee presses on with plans to split into two publicly traded companies – a US foodservice and meat business, and an international beverages business.
US: Sara Lee is to split into two separate publicly traded companies. The separation, expected to complete early next year, will see Sara Lee's North American retail and foodservice businesses (excluding its North American drinks business) spun...
Sara Lee has emerged as a takeover target for Brazilian beef processor JBS. The US manufacturer, which is currently valued at around $12.5bn ( 7.88bn), could be broken up in the event of a takeover, with private equity giant Blackstone reportedly poised to bid for its drinks business.
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