Sara Lee Slices, Dices, And Adds To Business Portfolio

Sara Lee Corp. executives announced several acquisitions and dispositions they feel will streamline the company's structure and create increased value for Sara Lee shareholders. Chicago-based Sara Lee plans initial public offerings and later dispositions of Coach and PYA/Monarch by Dec. 31. The company also will sell Champion and the International Fabrics unit of Courtaulds and acquire Uniao's coffee business and Sol y Oro. "We have a new vision for Sara Lee, a vision that will focus our business portfolio and resources on a smaller number of more powerful global growth platforms," says C. Steve McMillan, president and CEO of Sara Lee. "What we have begun today allows us to preserve the benefits of diversification while improving the consistency and sustainability of our company's growth prospects and performance over the long term." Sara Lee is a global consumer-packaged-goods company with more than $20 billion in annual revenue. Its leading brands include Sara Lee, Douwe Egberts, Hillshire Farm, Hanes, and Playtex.