:. Food Industry News

Categories: Mergers and Acquisitions

Sara Lee Sees Interest in European Business

Source: Reuters
18/06/2009

New York, June 18 - Sara Lee Corp has seen interest from parties that want to acquire its international household and personal care business, its chief executive said in an interview on Thursday.

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But Chairman and CEO Brenda Barnes declined to comment further on the sale process.

Sara Lee said in March that it was considering selling the unit, which includes the Sanex body wash and Ambi Pur air freshener lines, after receiving expressions of interest from suitors.

Barnes also said on Thursday that the company's business in Western Europe remains "challenging." That business has been hurt by the stronger dollar and weak bread sales in Spain due to the tough economy there.

Weak economies across Europe have also cut into sales of household and body-care products.

Sara Lee also continues its search for a new chief financial officer, Barnes said, adding that she did not have a deadline for the naming of the new chief financial officer.

Sara Lee shares rose 6 cents to $9.07 on Thursday on the New York Stock Exchange.



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