Cleary Reps Grupo Bimbo In $959M Sara Lee Unit Buy

Law360, New York (November 9, 2010, 12:50 PM EST) -- In a bid to focus more on its coffee and protein product lines, packaged food company Sara Lee Corp. has reached an agreement to sell its North American fresh bakery business to Mexican baking behemoth Grupo Bimbo SAB de CV in a deal valued at $959 million.

Under the deal announced Tuesday, Sara Lee will retain the right to sell its famous branded frozen desserts as well as protein products including sliced deli meats. Grupo Bimbo will secure the rights to the Sara Lee brand in...
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