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Restructuring plan at Sara Lee

Published on .

Sara Lee Corp. revealed a $1.6 billion restructuring program focused in its initial phase on selling an unspecified number of its 13 U.S. textile plants in a "deverticalization" process. Sara Lee said the program, which will include the divestiture of some businesses with less than $1 billion in sales, will allow it to focus "on business-building and marketing leading brands." Sara Lee Corp. President Steve McMillan said some of the savings, estimated to be $25 million to $50 million in fiscal 1998 and $100 million to $125 million in the year 2000, will be reinvested in advertising.

Copyright September 1997, Crain Communications Inc.

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