Sara Lee sells European apparel business

News - TurkishPress, Turkey

US consumer goods group Sara Lee Corp. said it was offloading its European branded clothes business as part of a worldwide effort to slim down its lingerie-to-cheesecake operations.

Sara Lee said it would sell multiple apparel brands in Britain, France, Germany, Italy, Spain and throughout Eastern Europe to US private investment group Sun Capital Partners for 100 million euros (117.5 million dollars).

The European business markets brands such as Dim, Playtex, Wonderbra, Abanderado, Nur Die and Unno and generated nearly 1.2 billion dollars in sales in the 12 months to July.

Sara Lee chief executive Brenda Barnes said the deal was a "key step" in the group's "bold and ambitious plan designed to simplify Sara Lee and focus on our core food, beverage, and household and body care businesses".

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