Sara Lee to Sell Dough Business to Ralcorp for $545 Million

Sara Lee Corp. announced on August 9, it has signed an agreement to sell its North American Refrigerated Dough business to Ralcorp Frozen Bakery Products, a division of Ralcorp Holdings for $545 million. Sara Lee announced in May 2011 that it was evaluating strategic options for its dough business, which provides a full range of private brand products including basic and specialty biscuits, crescent rolls, pizza and pie crusts and toaster pastries. These products are packaged for and sold to leading food and mass retailers.Sara Lee's North American Refrigerated Dough business employs approximately 700 people and includes manufacturing facilities in Forest Park, Ga. and Carrollton, Tex. The business generated revenues in excess of $300 million in fiscal 2010.The transaction is anticipated to close by the end of calendar year 2011.