Sara Lee Corp announces completion of Hanesbrands spin-off
06 Sep '06
3 min read
In connection with the spin-off, Sara Lee received a one-time payment of $2.4 billion from Hanesbrands.
“We are excited about our plans for driving Sara Lee's long-term growth in our core markets through our innovation strategy and continuous improvement initiatives,” said Barnes.
“In the short term, we also are pleased that we can continue to return significant capital to our shareholders with the spin-off of Hanesbrands, as well as through share buybacks and healthy dividend payments.”
Sara Lee Corporation is a Chicago-based global manufacturer and marketer of high-quality, brand-name products for consumers throughout the world.
In February 2005, the company began executing a bold and ambitious multi-year plan to transform Sara Lee into a company focused on its food, beverage, and household and body care businesses around the world.
As part of its transformation plan, Sara Lee will drive growth in its key categories via such strong brands as Ball Park, Douwe Egberts, Hillshire Farm, Jimmy Dean, Kiwi, Sanex, Senseo and its namesake, Sara Lee.
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