Sara Lee To Split Into 2 Companies
Lastest News Headlines:
Get Breaking News First
DOWNERS GROVE, Ill. (CBS/WBBM) – After an economic makeover, Downers Grove based Sara Lee has observers seeing double.
As WBBM Newsradio 780’s Felicia Middlebrooks reports, after some significant tweaking, the new Sara Lee is now two public companies. One will focus on meats, frozen desserts and food services, and will retain the name Sara Lee.
LISTEN: Newsradio 780’s Felicia Middlebrooks Reports
But the other company, yet to be named, will feature coffee and baked goods.
Sara Lee sold off its international household and body care business, and it sold its North American Fresh Bakery business, all to focus on its core product – food and beverages.
Analysts say the split was a good move, making Sara Lee more attractive for potential future acquisitions.
Sara Lee moved its headquarters from downtown Chicago to Downers Grove in 2005. The following year, the company closed its Superior Coffee roasting plant in Chicago, and in 2008 it closed its meat processing plant at 1000 W. Pershing Rd. and left the kosher meat business.
Chief executive officer Brenda Barnes stepped down this past summer to recover from a stroke. Sara Lee has been in flux since that time.