Sara Lee to merge meat businesses

- Last updated on GMT

Related tags: Sara lee, Business

US food and consumer packaged goods giant Sara Lee Corp.on
Wednesday said that it would combine its fragmented U.S. meat
business into two units, retail...

US food and consumer packaged goods giant Sara Lee Corp.on Wednesday said that it would combine its fragmented U.S. meat business into two units, retail and food service. ``We have duplicated too many functions too often and we have not maximized our ability to save money across a $3 billion business,''​ Robert Kopriva, chief executive of the company's foods business, said. Kopriva said that Sara Lee's 10 separate meat businesses, whose brands include Hillshire Farm and Ball Park,could cut considerable costs by consolidating into two units that will serve large grocers and Sara Lee's growing food service business. Not only was the decentralized structure inefficient, but it presented problems in recruiting and maintaining employees, he said in an address to investors in New York. Shares of Chicago-based Sara Lee were halted in early afternoon trading, pending expected news. They were down 25 cents to $18.90 a share prior to the halt on the New York Stock Exchange. Source: Reuters

Related topics: Market Trends

Follow us

Products

View more

Webinars