Sara Lee Sheds Stake in Godrej Sara Lee JV

The Godrej Sara Lee joint venture primarily markets insecticides, including Good Knight, HIT and JET brands, which are sold throughout India. In fiscal 2009, this business generated annual sales of approximately $158 million and accounted for approximately nine percent of the adjusted operating segment income1 for Sara Lee’s international household and body care business.

“The sale of our stake in the Godrej Sara Lee joint venture, combined with the previously announced binding offers with P&G and Unilever, underscore the significant value of our Household and Body Care portfolio,” said Brenda C. Barnes, chairman and chief executive officer, Sara Lee Corp. “This sale is the next step in our strategy to focus on our core food and beverage businesses, where we’re positioned to continue to drive strong shareholder value.” “Having partnered with Godrej for 15 years, we’re confident that their great team will build on the success we’ve shared to date and ensure that these leading brands will continue to thrive.”

In addition to Good Knight, Hit and Jet, Godrej Sara Lee Ltd. also sells well-known Ambipur, Brylcreem and Kiwi branded products. Apart from India, it has also achieved substantial market leadership in Nepal, Fiji and Yemen, according to the company.