Sara Lee today (22 July) revealed that its fourth-quarter results would include a pre-tax charge of between US$865m and $975m to write down the value of its bakery assets in North America and Spain.

Go deeper with GlobalData

Go deeper with GlobalData

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


The goodwill charge is related to assets the company obtained when it acquired Earthgrains in 2001.


While the impairment charge is required under accounting regulations, the company remains committed to growing its bakery businesses, chairman and CEO Brenda Barnes said.


“We retain our longer-term positive view of these businesses… [which] represent an important part of our strategy and we remain committed to continuing to grow these businesses,” Barnes said.


The company added that it expects to record a pre-tax charge of $65-75m to write down the value of certain other North American assets.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - Nominations Closed

Nominations are now closed for the Just Food Excellence Awards. A big thanks to all the organisations that entered – your response has been outstanding, showcasing exceptional innovation, leadership, and impact.

Excellence in Action
Winning five categories in the 2025 Just Food Excellence Awards, Centric Software is setting the pace for digital transformation in food and FMCG. Explore how its integrated PLM and PXM suite delivers faster launches, smarter compliance and data-driven growth for complex, multi-channel product portfolios.

Discover the Impact