The Chicago-based company, which makes Hillshire Farm lunch meats, Jimmy Dean sausages and Ball Park franks, said Monday that it would buy Pinnacle Foods in a deal valued at $4.23 billion.
Sara Lee’s impending split into two companies means the end of its bakery outlet stores. The 11 stores nationwide, including two in Chicago and seven in the suburbs, will close by the end of November.
A major employer reportedly is moving its corporate headquarters back to the city.
U.S. Rep. Peter Roskam (R-Ill.) said Tuesday that proposed Obama administration rules are stifling the economic recovery. And he wants Congress to have a much bigger say in future rulemaking.
Two Chicago companies are squaring off Monday over hot dogs.
After an economic makeover, Downers Grove based Sara Lee has observers seeing double.
Downers Grove-based Sara Lee is selling its fresh bakery unit as it looks to concentrate more on its coffee and meat businesses. About 13,000 employees will be transferred.