Downers Grove, Ill.-based Sara Lee Corp. has completed the sale of the majority of its coffee segment to J.M. Smucker Co., known for brands including Folgers and Dunkin’ Donuts. The sale also includes liquid coffee concentrate sold under the Douwe Egberts brand.
“We are pleased to complete this transaction that adds the market-leading coffee concentrate business to the Smucker portfolio,” said J.M. Smucker Co. CEO Richard Smucker. “The transaction further strengthens our position as a leading North American coffee company, provides new coffee technologies, and adds significant scale to our foodservice business. We are excited to welcome the nearly 475 new employees into the Smucker family.”
Sara Lee also announced yesterday that it is acquiring Massachusetts-based high-end tea maker Tea Forté. The company’s remaining coffee assets and the tea operations will soon be spun off to a second company, Sara Lee announced.
“Tea Forté’s expertise in ultra-premium teas complement our existing business with leading brands across Europe and boosts our innovation capabilities in the tea category,” said Michiel Herkemij, CEO of Sara Lee International Beverage.