Sara Lee near bakery sale to Grupo Bimbo -report

Nov 8 (BestGrowthStock) – Sara Lee Corp (SLE.N: ) is close to selling
its North American bakery business to Mexico’s Grupo Bimbo
(BIMBOA.MX: ) in a deal that could fetch $900 million to $1
billion, Bloomberg said, citing two people with knowledge of the
matter.

The sale of the unit, which includes the largest fresh bread
brand in the U.S., may be announced as soon as this week, the
people told the agency.

Mexico City-based Bimbo (BIMBOA.MX: ) bought the U.S.
bread-making unit of Canada’s George Weston Ltd (WN.TO: ) for
$2.38 billion in December 2008, increasing its presence in the
eastern United States. [ID:nN26166416]

Sara Lee could not immediately be reached for comment by
Reuters.
(Reporting by Sakthi Prasad in Bangalore )

Sara Lee near bakery sale to Grupo Bimbo -report