Sara Lee Completes Sale of 51 Percent Stake in Its Godrej Sara Lee Joint Venture

 
TIDMSRL 
 
 

  Sara Lee Corp. (NYSE: SLE) announced it has completed the sale of its 51 percent stake in its Godrej Sara Lee joint venture to Godrej Consumer Products Ltd. for a total consideration of EUR185 million ($230 million). Godrej Sara Lee is the market leader in the Indian household insecticides category and has a strong presence in the air care, shoe care and male hair care markets. 
 

  The transaction is part of Sara Lee's strategy to sell its international household and body care segment. The company continues to anticipate closing the sale of its global body care and European detergents businesses to Unilever by the end of the calendar year 2010, and closing the sale of its air care business to The Procter & Gamble Company shortly after the end of the fiscal year in July. Both transactions are subject to customary closing conditions. 
 

  About Sara Lee Corporation 
 

  Each and every day, Sara Lee (NYSE: SLE) delights millions of consumers and customers around the world. The company has one of the world's best-loved and leading portfolios with its innovative and trusted food, beverage, household and body care brands, including Ambi Pur, Ball Park, Douwe Egberts, Hillshire Farm, Jimmy Dean, Kiwi, Sanex, Sara Lee and Senseo. Collectively, these brands generate almost $13 billion in annual net sales covering approximately 180 countries. The Sara Lee community consists of approximately 41,000 employees worldwide. Please visit www.saralee.com for the latest news and in-depth information about Sara Lee and its brands. 
 
Media: Jon Harris, +1.630.598.8661 
Analysts: Aaron Hoffman, +1.630.598.8739