Sep 25, 2009
Unilever offers 1.8 billion dollars for Sara Lee personal care ops
Sep 25, 2009
THE HAGUE, Sept 25, 2009 (AFP) - Anglo-Dutch food and cosmetics giant Unilever said on Friday 25 September it had made a binding offer of 1.28 billion euros (1.83 billion dollars) for the personal care operations of US giant Sara Lee Corp.
Photo: AFP/File/Eric Feferberg
"Personal Care is a strategic category and a key growth driver for Unilever," chief executive Paul Polman said.
"This transaction builds on our portfolio in Western Europe and also in Asia. The Sara Lee brands enjoy strong consumer recognition, offer significant growth potential and are an excellent fit with Unilever's existing business."
The Sara Lee business posted sales of more than 750 million euros in the 12 months to June 2009, with earnings before interest, depreciation and amortisation of 128 million euros, according to a Unilever statement.
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