Sara Lee selling pest control unit to SC Johnson
June 15, 2010
by Eric Schroeder
DOWNERS GROVE, ILL. — Sara Lee has reached agreement to sell its remaining pest control business to SC Johnson for €153.5 million ($188.5 million). Earlier this year, Sara Lee sold its 51% stake in its Godrej Sara Lee joint venture, which included its other insecticides business.
“The binding offer for our remaining insecticides business moves Sara Lee one step closer to focusing exclusively on our core food and beverage businesses, where we have strong competitive positions,” said Marcel Smits, interim chief executive officer for Sara Lee. “Receiving this offer from SC Johnson, one of the world’s leading manufacturers of household products, showcases the value in Sara Lee’s International Household and Body Care portfolio.”
In addition to the sale of its stake in Godrej Sara Lee, Sara Lee has received binding offers from Unilever for its body care business for €1.275 billion and from Procter & Gamble for its air care business for €320 million.