Bimbo is talks to buy Sara Lee bakery unit

Bimbo is talks to buy Sara Lee bakery unit

Bimbo is talks to buy Sara Lee bakery unit

Sara Lee Corp. is in late-stage discussions with Grupo Bimbo SAB de C.V. to sell its North American bakery business.
The Downers Grove-based company began soliciting bids in early summer, Crain's first reported. Now Mexico City-based Bimbo has emerged as the most likely buyer.
Other companies interested in the unit, which posts annual sales of about $2 billion, included Hostess Brands Inc., Campbell Soup Co.'s Pepperidge Farm, Flowers Foods Inc. and Ripplewood Holdings LLC.
A source close to the discussion said Sara Lee is likely to seek more than $1.5 billion.
Bimbo “makes the most sense” as a buyer, the source said. The Mexican company acquired confectionary Weston Foods Inc. in 2008 and confectionary Dulces Vero earlier this year.
Bloomberg News first reported Tuesday that Bimbo was the front-runner.
Since it began shopping the bakery business, Sara Lee has attracted attention from at least three private-equity firms interested in the entire company. Sara Lee has rebuffed their advances.

About Hunt Executive Search, Inc.

 

Hunt Executive Search, Inc. is the preeminent supplier of "A" Player human capital to the Consumer Products, Specialty Chemicals and Life Sciences industries.

 

Our clients include large publicly traded multi-nationals, mid-cap, family, and/or private equity-owned companies, wholesalers, and retailers. Our individual industry based practices include consumer goods companies in food and beverage, personal care, household products, over-the-counter pharmaceutical, consumer durables, and packaging services. Our specialty chemicals practice includes companies in coatings, plastics, industrials and adhesives. Our life sciences practice serves companies in bio-technology, medical device, generic, and brand name pharmaceuticals. Through retained executive search services for these clients we have placed executives in top-level positions at C- Suite General Management, Sales, Marketing, Product Supply, Manufacturing, R&D, Finance and Human Resources.

Website: http://www.huntsearch.com

Boutique executive search services with best in class global network, contacts and market mastery.

Deeply connected and engaged personal service approach, long-term investment in client community and 25 year history of strong relations with both Multi-National leaders and Private Equity partners.