Sara Lee to sell cleaning products business to Symex
Sara Lee Corp. (NYSE: SLE) said has agreed to sell its White King and Janola cleaning products business to Australia-based detergent maker Symex Holdings (ASX: SYM) for 37.9 million euros.
The White King and Janola business primarily develops, markets and sells bleach, toilet, laundry and other cleaning products in Australia and New Zealand.
In fiscal 2009, this business generated annual sales of approximately €19 million ($28 million based on fiscal 2009 exchange rates) and accounted for approximately 1 percent of the adjusted operating segment income1 for the International Household and Body Care business.
Over the past several years, Sara Lee has divested a number of businesses, including the Hanes underwear brand, to focus purely on foods and beverages like Senseo coffee and Hillshire Farm lunch meat. The deal with Symex brings Sara Lee closer to its goal of focusing on selling food, coffee and tea.
The transaction is anticipated to close during the first quarter of calendar year 2011.