It is reported that the US food group Sara Lee Corp. is considering the sale of its North American bakery division. According to reports Sara Lee has hired banking advisers to set out the options for the business, which could be worth US$1.5bn.

The North American bakery business had $2.2 billion in sales in the most recent fiscal year, about 17 percent of total revenue for the company, which also owns Hillshire Farm deli meats, Senseo coffee and other food brands.

Hostess Brands Inc and Campbell Soup Co's Pepperidge Farm unit had shown interest in Sara Lee's bread unit.

Sara Lee has sold several businesses over the years, including Hanesbrands apparel and its Ambi Pur air freshener business to focus on food and beverages.

The company's bread business has encountered stiff price competition in a market closely tied to wheat prices.



source: flex-news-food.com