Sara Lee Corporation Sara Lee Completes Sale of North American Fresh Bakery Business to Grupo Bimbo

 
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Sara Lee Corp. (NYSE: SLE) announced today it has completed the sale of its North American Fresh Bakery business to Grupo Bimbo S.A.B. de C.V. (BMV: BIMBO) for $709 million, including the assumption of debt. As part of the transaction, Grupo Bimbo assumed all employee-related commitments, including pension obligations.

In Oct. 2011, Sara Lee also announced that it had agreed to sell its fresh bakery businesses in Spain and Portugal to Grupo Bimbofor EUR115 million in cash. This transaction is expected to close by the end of the calendar year.

About Sara Lee Corporation

Sara Lee Corp. (NYSE: SLE) and it's leading portfolio of food and beverage brands, including Ball Park, Douwe Egberts, Hillshire Farm, Jimmy Dean, Pickwick Teas, Sara Lee and Senseo, generate nearly $9 billion in annual net sales from continuing operations and employ approximately 20,000 people worldwide. In January, 2011, Sara Lee Corp. announced that it will divide the company into two pure -play publicly-traded companies, one focused on the international coffee and tea market and the other on North American meats. For more information on the company, please visit www.saralee.com.

Sara Lee Corp.Media:Mike Cummins, [phone]Analysts:Melissa Napier, [phone]