Downers Grove, Illinois, March 13 - Sara Lee Corporation announced today that it is selling its 49.9% stake in the Qualtia Alimentos business in Mexico to its joint venture partner, Xignux. Terms of the agreement were not disclosed. The completion of the transaction is subject to customary conditions and is expected to occur within a month.
“This move enables us to more closely focus on the continued growth and expansion of our core brands in the United States and around the world, and is part of our ongoing efforts to streamline our business,” said C.J. Fraleigh, chief operating officer, North America, Sara Lee Corporation.
Currently, Qualtia Alimentos sells meats and cheeses under brand names Zwan, Kir, Duby, Riojano, Alpino, Donfer, Caperucita and Buen Pastor. The company has yearly revenues of $300 million and employs more than 6,500 employees.
About Sara Lee Corporation
Each and every day, Sara Lee (NYSE: SLE) delights millions of consumers and customers around the world. The company has one of the world's best-loved and leading portfolios with its innovative and trusted food, beverage, household and body care brands, including Ambi Pur, Ball Park, Douwe Egberts, Hillshire Farm, Jimmy Dean, Kiwi, Sanex, Sara Lee, and Senseo. Collectively, these brands generate more than $12 billion in annual net sales covering approximately 200 countries. The Sara Lee community consists of 52,000 employees worldwide.