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"Sara Lee Corporation announced today the first steps of a significant reshaping of its business portfolio that will tighten the company&amp;#39;s focus on a smaller number of global branded consumer packaged goods segments. Both acquisitions and dispositions will be used to concentrate the company&amp;#39;s resources on three business segments: Food and Beverage, Intimates and Underwear, and Household Products. Business disposition plans announced today include initial public offerings and subsequent dispositions for Coach, a leading global leather goods business, and PYA/Monarch, the country&amp;#39;s fourth-largest, full-service foodservice distributor. In addition, the company announced its intent to sell Champion, a global manufacturer and marketer of high-quality athletic apparel, and the International Fabrics division of Courtaulds. These businesses do not fit with Sara Lee&amp;#39;s renewed focus on branded consumer packaged goods segments in which the company can enjoy leading category positions around the world. These dispositions are designed to streamline the company&amp;#39;s structure and create increased value for Sara Lee shareholders. &amp;quot;We have a new vision for Sara Lee, a vision that will focus our business portfolio and resources on a smaller number of more powerful global growth platforms,&amp;quot; said C. Steve McMillan, president and chief operating officer. McMillan will assume the role of president and chief executive officer July 1. &amp;quot;What we have begun today allows us to preserve the benefits of diversification while improving the consistency and sustainability of our company&amp;#39;s growth prospects and performance over the long term.&amp;quot; Several acquisitions and investments also were announced that will strengthen Sara Lee&amp;#39;s global position in its Food and Beverage, and Intimates and Underwear segments. These include:"^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.just-style.com/news/sara-lee-corporation-reshapes-portfolio-to-tighten-global-business-focus_id77932.aspx>