Grupo Bimbo Gets Approval To Give Up Brand Rights Before Sara Lee Buy

Date : 05/03/2012 @ 6:31PM
Source : Dow Jones News
Stock : Hillshire Brands Company (SLE)
Quote : 18.5  0.0 (0.00%) @ 2:05AM

Grupo Bimbo Gets Approval To Give Up Brand Rights Before Sara Lee Buy

Sara Lee (NYSE:SLE)
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Mexican baked goods firm Grupo Bimbo SAB (BIMBO.MX) said Thursday it has received approval from the U.S. Department of Justice to give up the rights to several brands before its purchase of Sara Lee's Corp.'s (SLE) fresh bakery business.

Bimbo did not disclose financial details for the deals, and said in a filing with the Mexican Stock Exchange that it has several more required divestitures pending approval.

Bimbo plans to turn the licensing rights for the Earthgrains and Healthy Choice brands in Omaha, Neb., to Pan-O-Gold Baking Company, of St. Cloud, Minn. The Mexican firm also said it would give the licensing rights in Harrisburg and Scranton, Pa., for the Holsum and Milano brands to Schmidt Baking Company of Baltimore, Md.

-By Amy Guthrie, Dow Jones Newswires; (5255) 5980-5177, amy.guthrie@dowjones.com

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