Sara Lee sells facilities to Grupo Siro

Sara Lee has sold a number of its facilities to Grupo Siro, in a move it says will allow both companies to adapt their production capacities to the requirements of the market.

In a statement, the organisation explained that one of the key factors upon which the decision was based was the condition that jobs at the plants will be retained.

Grupo Siro committed to maintaining the level of production at all the sites that were sold, meaning that all members of staff will continue working there.

Specific financial details of the deal, which was described by Frank van Oers, chief executive officer of Sara Lee International Beverage and Bakery, as “terrific”, have not been made available.

“This agreement enables the company to increase its investment behind key customer and consumer programs, while continuing to leverage a first-class, experienced workforce,” he added.

Last month, Sara Lee declared its 254th consecutive quarterly dividend.