Sara Lee has indicated that it is increasing its focus on its core food business with the sale of its Ambi Pur air care business to Proctor & Gamble.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Sara Lee has received a binding offer for the unit, worth US$470m. The company has approved the sale, pending certain conditions.
Ambi Pur products, which include air sprays and car fragrances, generated $355m in sales in Sara Lee’s last fiscal year, accounting for about 3% of total revenue.
“The proposed sale of our air care business is the next step in our plan to focus on our core food and beverage businesses, where we have a strong competitive position and can generate superior shareholder returns,” Sara Lee said in a statement.
It is expected that the deal will have closed by June 2010.
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
