M&A Deal Summary

Smithfield Foods Acquires Sara Lee Corp - European Meats Business

On May 5, 2006, Smithfield Foods acquired food company Sara Lee Corp - European Meats Business from Sara Lee

Acquisition Highlights
  • This is Smithfield Foods’ 23rd transaction in the Food sector.
  • This is Smithfield Foods’ 1st transaction in the Netherlands.

M&A Deal Summary
Date 2006-05-05
Target Sara Lee Corp - European Meats Business
Sector Food
Buyer(s) Smithfield Foods
Sellers(s) Sara Lee
Deal Type Divestiture

Target

Sara Lee Corp - European Meats Business

Hoofddorp, Netherlands
Sara Lee's European meats business generated $1.1 billion in sales in fiscal 2005 and holds its largest positions in France, Portugal and the Benelux region, with popular European brands such as Aoste, Justin Bridou and Nobre. The company also has a presence in Germany, Italy and the United Kingdom.

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Buyer(S) 1

Buyer

Smithfield Foods

Smithfield, Virginia, United States
Category Company
Founded 1961
Sector Food
Employees47,900
DESCRIPTION

Smithfield Foods, Inc., brings good food to families and friends around the world in a responsible manner. Smithfield produce many popular products like hams, bacon and sausage.

DEAL STATS #
Overall 24 of 29
Sector (Food) 23 of 27
Type (Divestiture) 5 of 7
Country (Netherlands) 1 of 1
Year (2006) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-25 ConAgra Foods - Ham Business

Lincoln, Nebraska, United States

ConAgra Foods - Ham Business is a producer of traditional and spiral sliced smoked bone-in hams, corned beef and other smoked meat items sold to supermarket chains and independent grocers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-31 ConAgra Foods - Refrigerated Meats Businesses

United States

ConAgra Foods - Refrigerated Meats Businesses includes the packaged meats and turkey products sold under the Armour, Butterball, Eckrich, Margherita, Longmont and LunchMakers brands. The brands are marketed to retail grocers, delis, restaurants and other foodservice establishments.

Buy $575M

Seller(S) 1

SELLER

Sara Lee

Downers Grove, Illinois, United States
Category Company
Founded 1939
Sector Food
DESCRIPTION

Sara Lee Corp. was a consumer goods and food company headquartered in Downers Grove, Illinois. The Company was formed in 1939 and became defunct in 2012 when it split into Hillshire Brands and D.E. Masters Blends.

DEAL STATS #
Overall 3 of 9
Sector (Food) 1 of 4
Type (Divestiture) 2 of 6
Country (Netherlands) 1 of 1
Year (2006) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2001-07-03 Earthgrains Baking

St. Louis, Missouri, United States

Earthgrains Baking Companies, Inc. engages in the manufacturing of packaged bread and bakery products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-05 Hanes

Winston-Salem, North Carolina, United States

Hanes is a consumer goods company with a portfolio of apparel brands, including Hanes, Champion, C9 by Champion, Bali, Playtex, Just My Size, L’eggs, barely there, Wonderbra, Gear for Sports, Zorba, Sol y Oro and Rinbros. Hanes was founded in 1901 and is based in Winston-Salem, North Carolina.

Sell -
Mergr

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