Sara Lee has announced a further step toward their plan to focus on food and beverage products with the sale of the air care business to consumer products giant Procter & Gamble. The binding offer of €320 million (A$524 million) was accepted earlier this month by Sara Lee as long as certain, unspecified conditions are met. In fiscal 2009, this business generated annual sales of approximately €260 million. “The proposed sale of our air care business is the next step in our plan to focus... ...Read more »

Sara Lee has reported a binding bid of almost A$2.2 billion (€1.275 billion) from consumer products giant Unilever to acquire its global body care and European detergents businesses. Sara Lee announced plans to divest the business, which includes brands like Radox, earlier this year to allow for a heightened focus on their food divisions. They are still looking for a buyer on the remainder of their household care division. The proposed transaction, which is subject to customary closing conditions... ...Read more »

National Foods has announced that Parmalat will purchase some of their fresh milk manufacturing operations in New South Wales and South Australia after the competition watchdog requested divestments from the dairy firm when they purchased Dairy Farmers last year. The deal, which is subject to the approval of the Australian Competition and Consumer Commission (ACCC), will see Parmalat acquire a portfolio of fresh milk assets across the two states, licences to market brands and distribution networks... ...Read more »

Coles yesterday announced it would sell its Pharmacy Direct business to RX Direct (a company owned by the Pharmacist Members of the Terry White Chemists Advisory Board) as they focus on the arduous task of transforming the Coles business after years of underinvestment. Pharmacy Direct was bought by the former Coles Myer Group in March 2006, and sells a range of pharmaceutical products through a retail site in western Sydney, and through its mail order / online business. Coles Managing Director, Ian... ...Read more »

Sara Lee Corporation, famous for its Moccona and Sara Lee brands, is contemplating the sale of their International Household & Body Care business after receiving expressions of interest. They advised that consideration was being given to a divestment of the business, which includes grocery brands in Australia such as Ambi-Pur, White King, Radox and Kiwi. Sara Lee began a restructure of their company in 2005, which has already led to divestitures and spin-offs worth US$3.8 billion. “Our... ...Read more »