Sara Lee Sells Foodservice Coffee/Tea Unit to J.M. Smucker

Sara Lee Corp. has announced the sale of a majority of its North American foodservice coffee and tea operations to The J.M. Smucker Company for $350 million. The transaction is expected to close near the beginning of calendar year 2012. The two companies will also establish a long-term partnership to collaborate on liquid coffee innovation.

The acquisition includes Sara Lee's market-leading liquid coffee concentrate business sold under the licensed Douwe Egberts brand, along with a va

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