Sara Lee Corp. sold the majority of its North American foodservice coffee and tea operations to J.M. Smucker Co. for $350 million in cash.
The move underscores Sara Lee’s continuing efforts to slim down the packaged-foods company, while it is in the process of splitting apart, into an international coffee and tea business and a North American business that includes the Jimmy Dean and Hillshire Farms brands.Sara Lee has been selling off non-core businesses in order to narrow its focus for the past few years.
Source: online.wsj.com/article/SB10001424052970204644504576650843489148926.html
