Sara Lee to split tea and coffee business by June
Sara Lee, a global consumer-goods company based in Illinois, has announced that it will spin-off its coffee and tea business by June. This means that the company will be split into two divisions: an international coffee and tea business and a North American retail, foodservice and specialty meats business. The international coffee and tea business will be domiciled in the Netherlands and will move its headquarters from Utrecht to Amsterdam in the second half of 2012. The spin-off is part of Sara Lees plan to trim its portfolio in order to focus on its most profitable food and beverage businesses. The company has recently sold the majority of its US foodservice coffee and tea operations to The J.M. Smucker Company and purchased the specialty tea manufacturer Tea Forté.