USA: Sara Lee Corporation completes acquisition of Earthgrains, becomes second-largest fresh bread company
The acquisition of Earthgrains is consistent with Sara Lee's reshaping program under which the company continues to build leadership positions in three highly focused business segments: Food and Beverage, Intimates and Underwear, and Household Products.
Sara Lee purchased approximately 44 million shares, representing nearly 94%, of Earthgrains' outstanding common stock, in a tender offer. Earthgrains will be merged with a wholly owned subsidiary of Sara Lee and, as a result of the merger, all remaining stockholders of Earthgrains will receive the $40.25 per share in cash, without interest, that was paid in the tender offer, other than stockholders who properly exercise dissenters' rights under state law.
Sara Lee Bakery Group, which operates bakery businesses in the United States, Europe and Australia, is a division of Sara Lee Corporation. Sara Lee Bakery Group competes in the fresh, refrigerated and frozen bakery segments. Major company-owned brands include Sara Lee, Earth Grains, IronKids, Colonial and Rainbo in the United States, and Bimbo and CroustiPate in Europe.
Sara Lee Corporation is a global branded consumer packaged goods company with approximately $17.7 billion in annual revenues. Its leading brands include Sara Lee, Douwe Egberts, Hillshire Farm, Kiwi, Hanes and Playtex.
To view related research reports, please follow the links below:-
US food and consumer goods giant Sara Lee has reported a fall in income for the year ended 2 July 2005, blaming higher costs, a tough European retail environment and the costs of restructuring....
Branded food and consumer products company Sara Lee Corporation, has introduced a white bread made with whole grain....
Branded food and consumer products company Sara Lee Corporation has announced that its board of directors has elected George Chappelle a senior vice president of the corporation and Kees Gielen and Al...
Bakery company Grupo Bimbo has announced a deal to acquire certain assets and brands property of Empresas Chocolates La Corona SA in an operation that will amount to 471m (US$43.4m) pesos. ...
Mexican baked goods firm Bimbo is expected to expand this year via an acquisition in Latin America, according to analysts....
Food company Premier Foods has today (Monday) announced that it has agreed to buy Marlow Foods, the owner of meat alternative brand Quorn, from Montagu Private Equity for £172m (US$312m)....
The Food and Drink Federation has today (Wednesday) appointed Melanie Leech as Director General. She will take up the post on 15 August 2005....
ContiGroup Companies Inc and Smithfield Foods Inc have announced the successful completion of an agreement to form a 50/50 joint venture between their respective cattle feeding businesses ContiBeef an...
- General Mills sales woes continue - analysis
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Analysis: Chocolate sector's deforestation pledge
- Comment: Meal kits in US - don't believe the hype
- Kraft Heinz cuts jobs in US, Canada
- Mondelez set for union crosshairs next week
- Mondelez plays down impact of union action
- Brazil seeks to cool concerns over meat probe
- US meal delivery service Blue Apron buys BN Ranch