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Sara Lee Corporation (SRL)

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Tuesday 05 April, 2011

Sara Lee Corporation

Sara Lee Completes Sale of Global Shoe Care Bus...

Sara Lee Completes Sale of Global Shoe Care Business to SC Johnson

Sara Lee Corporation

Sara Lee Corp. (NYSE: SLE) today announced that it has completed its sale of its global shoe care business, in a majority of countries, to SC Johnson. The global shoe care business is comprised of the brands Kiwi, Kiwi Kleen, Tana and Bama, among others. The sale will close in the remaining jurisdictions pending certain conditions. The deal was originally announced on Dec. 31, 2010, with a binding offer from SC Johnson of €245 million.

This transaction is a part of Sara Lee’s process of divesting its Household and Body Care businesses. In addition to today’s transaction, the company has announced and closed transactions for its stake in the Indian insecticides joint venture Godrej Sara Lee (sold to Godrej for €185 million), its air care business (sold to Procter & Gamble for €320 million), its body care and European detergents businesses (sold to Unilever for €1.21 billion) and its White King and Janola brands (sold to Symex for €38 million). In addition, Sara Lee announced the pending sale of its non-Indian insecticides business to SC Johnson for €153.5 million.

About Sara Lee

Each and every day, Sara Lee (NYSE: SLE) delights millions of consumers and customers around the world. The company has one of the world’s best-loved and leading portfolios with its innovative and trusted food and beverage brands, including Ball Park, Douwe Egberts, Hillshire Farm, Jimmy Dean, Sara Lee and Senseo. Collectively, our brands generate nearly $9 billion in annual net sales from continuing operations. Sara Lee has approximately 20,000 employees in its continuing operations worldwide. Please visit www.saralee.com for the latest news and in-depth information about Sara Lee and its brands.

Sara Lee Corp.
Media: Alissa Bolton, +1.630.598.8123
Analysts: Melissa Napier, +1.630.598.8739


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