Sara Lee spin-off progressing, increases sales in Q4
Sara Lee Corp. reported earnings for the fourth quarter and full year fiscal 2011 and provided an update on the progress of the spin off transaction. The company has shown significant divestment and restructuring progress toward the creation of two pure-play companies by the first half of calendar 2012, it reported.
The company said it intends to divest Spanish bakery and French refrigerated dough businesses and has already signed an agreement to sell North American refrigerated dough business to Ralcorp for $545 million.