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Sara Lee has said that it intends to concentrate on its food business as it received a €320m ($470m)binding offer for its Ambi Pur air care brand from Procter & Gamble.
Chairman and chief executive officer at Sara Lee Corp Brenda Barnes said: “The proposed sale of our air care business is the next step in our plan to focus on our core food and beverage businesses, where we have a strong competitive position and can generate superior shareholder returns.”
The business segment generated $355m in sales for Sara Lee during fiscal 2009, accounting for about three percent of the company’s revenue.
