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22.02.2011 19:31
Sara Lee Discusses Proposed Spin-off Transaction at CAGNY


Presenting at the Consumer Analyst Group of New York's (CAGNY) annual conference, Sara Lee Corp. today reviewed its plan, announced on Jan. 28, 2011, to spin off its North American Retail and Foodservice business in a tax-free transaction, creating two pure-play, publicly traded companies. Marcel Smits, chief executive officer, and Mark Garvey, chief financial officer, presented.

"We are excited to create shareholder value by spinning off our North American business resulting in two pure-play companies," said Smits. "This will allow for greater management focus, faster growth potential and greater strategic flexibility, while providing more focused investment options for shareholders."

North American Business

The spun-off North American Retail and Foodservice business (excluding North American beverage) will retain the Sara Lee name and is expected to account for approximately $4.2 billion of the company's total fiscal 2011 net sales, based on the mid-point of current guidance. The business has benefitted from investments in leading industry brands including Jimmy Dean, Hillshire Farm and Ball Park, which have generated strong growth and financial results over the past five years. The business's focus on innovation, value-added sales mix and operational efficiency has driven substantial margin improvement across its categories. Investments such as the new, state-of-the-art, sliced-meats facility in Kansas City, Kan., which began production this month, support the company's goal of furthering its sustained competitive advantage.

International Beverage and Bakery Business

This yet-to-be-named company, internally referred to as "CoffeeCo," will consist of Sara Lee's International Beverage and Bakery businesses, as well as the current North American beverage business, and is expected to account for approximately $4.85 billion of the company's total fiscal 2011 net sales, based on the mid-point of current guidance.

This business has leading brands in both retail and foodservice across many countries in Europe, as well as Brazil, and has a proven track record of innovation. Future coffee market growth is expected to come from premiumization - the expansion of premium concepts, such as single-serve pods and capsules, espresso and premium instants. Consistent with this strategy, the company has recently completed a number of successful launches, including L'Or Espresso in France and the Netherlands and Aromettes in the Netherlands, Belgium and Denmark, and has been pleased with the favorable consumer reaction to these new innovations.

During today's presentation, the company also discussed the impact of escalating commodity costs on its businesses. Garvey provided insight on the challenging effect of commodity costs during the first half of fiscal 2011, and reinforced the company's position that it will see improvement during the remainder of the year. "Although we anticipate further headwinds in the second half, particularly as we push through our new price increases, we do expect the increases that we have already taken will benefit our margins in the back half of the year," said Garvey.

A webcast replay of today's meeting will be available at 7 p.m. CST on Feb. 22, 2011, in the Investor Relations section of the Sara Lee corporate Web site (www.saralee.com) through the close of business on Aug. 22, 2011.

About Sara Lee Corporation

Each and every day, Sara Lee (NYSE: SLE) delights millions of consumers and customers around the world. The company has one of the world's best-loved and leading portfolios with its innovative and trusted food and beverage brands, including Ball Park, Douwe Egberts, Hillshire Farm, Jimmy Dean, Sara Lee and Senseo. Collectively, our brands generate nearly $9 billion in annual net sales from continuing operations. Sara Lee has approximately 20,000 employees in its continuing operations worldwide. Please visit www.saralee.com for the latest news and in-depth information about Sara Lee and its brands.

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Lebensmittelkonzern Sara Lee kündigt Sonderdividende an

Der amerikanische Lebensmittelkonzern Sara Lee Corp (ISIN: US8031111037, NYSE: SLE) kündigt Details für den bereits früher avisierten Plan der Aufteilung in zwei getrennt an der Börse gehandelte Konzerne an. Zum einen wird es ein Unternehmen unter dem jetzigen Namen Sara Lee mit den Marken Jimmy Dean, Ball Park usw. geben. Darüber hinaus erfolgt die Abspaltung des Kaffeegeschäfts unter dem Namen CoffeeCo. Die Firma wird ihren Sitz in den Niederlanden haben und auf Kaffeemarken wie Senseo und Douwe Egberts spezialisiert sein.

Die Abspaltung soll am 28. Juni erfolgen. Nach Abspaltung erfolgt die Zahlung einer Sonderdividende in Höhe von 3 US-Dollar durch CoffeeCo. CoffeeCo wird im Anschluss mit einer Tochtergesellschaft von D.E. Master Blenders 1753 N.V. fusionieren. Gleichzeitig genehmigte der Aufsichtsrat von Sara Lee eine Aktienzusammenlegung (reverse stock splitt) im Verhältnis 1:5, der nach der Abspaltung erfolgt.

Der Konsumgüterhersteller hat seinen Sitz in Downers Grove im US-Bundesstaat Illinois und wurde 1939 gegründet. Zu den Marken zählen u. a. Senseo, Duschdas oder auch Fissan.

Redaktion - MyDividends.de

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Antwort auf Beitrag Nr.: 43.237.847 von R-BgO am 01.06.12 13:58:36

von der website; bei mir im Depot ist noch nichts abgebildet:


Q: HOW DID THE SPIN-OFF PROCESS WORK?

A: After the close of market on June 28, Sara Lee shareholders of record received a share in D.E MASTER BLENDERS 1753 (DEMB) and a $3.00 per share special dividend paid by DE US, Inc. (DE). The ratio of DEMB shares to SLE shares was 1:1. In other words, for every one share of Sara Lee you held, you received one share of DEMB.

In addition, the name of the company was changed to The Hillshire Brands Company (Hillshire Brands) and all SLE shareholders became shareholders of Hillshire Brands. In addition, prior to the start of trading on June 29, SLE shares underwent a reverse split of 1:5, so for every five shares of SLE you held, you now hold one share of Hillshire Brands with the same total value. No value was lost as a result of the reverse stock split. If fractional shares resulted, you will receive a check for the value of those fractional shares.

As an example, if you held 100 SLE shares you received 100 DEMB shares and $300. Then your 100 SLE shares became 20 Hillshire Brands shares.


Q: WHAT WILL I NEED TO DO IN ORDER TO GET MY HILLSHIRE BRANDS SHARES AFTER THE REVERSE SPLIT?

A: If you are a registered stockholder and your shares are held in book-entry, Computershare will calculate the 1:5 reverse split and credit your stockholder account with the applicable number of Hillshire Brands shares on June 29. The Hillshire Brands shares will be in book entry. The company is not issuing physical stock certificates.
After the shares are credited to your account, you will receive a statement confirming the total number of Hillshire Brands shares and a check for the fractional shares (if any). If you do not hold enough shares to receive a minimum of one share of Hillshire Brands shares, you will receive a cash-in-lieu payment only.

If your shares are held in certificate form or certificate and book form, Computershare will mail a Letter of Transmittal to your address on file. This Letter of Transmittal will provide instructions on where to mail your Sara Lee Corporation and/or Consolidated Foods Corporation stock certificates for exchange.

After you return the certificates and Letter of Transmittal form to Computershare, Computershare will calculate the 1:5 reverse split and credit your stockholder account with the applicable number of Hillshire Brands (book) shares.
After the shares are credited to your account, you will receive a statement confirming the total number of Hillshire Brands shares and a cash in lieu check for the fractional shares (if any). If you do not hold enough shares to receive a minimum of one share of Hillshire Brands shares, you will receive a cash-in-lieu payment only.

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Thread: Hillshire Brands - "Filet"stück von Sara Lee

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