Sara Lee may sell non-food product lines
Posted on: Tuesday, 31 March 2009, 14:42 CDT
U.S. food and home products corporation Sara Lee said it was evaluating offers to sell its non-food product lines, worth $2.3 billion in annual sales.
Sara Lee Chief Executive Officer Brenda Barnes said in a statement, we will carefully evaluate all opportunities,
The Chicago Tribune reported Tuesday.
The company revealed in a regulatory filing Monday that its household and personal care product lines, representing 17 percent of the company's sales, may be sold.
Stock analyst Alexia Howard at Sanford C. Bernstein said the strategy makes a lot of sense.
They have staked out their claim in bread and coffee and meat,
Howard said.
But, some said the timing could be improved. The business is very economically sensitive and at this point selling it is not a good idea,
Robert Moskow, a stock analyst at Credit Suisse told the Tribune.
The negatives outweigh the positives,
he said.
Source: United Press International
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