Sara Lee Partners To Buy Coffee Provider
NEW YORK (AP) — Food maker Sara Lee Corp. and its Norwegian joint venture partner Kaffehuset Friele are buying facilities provider ISS A/S' House of Coffee business, part of Sara Lee's plan to focus on international beverages.
House of Coffee distributes drinks to offices and institutions in Norway and Denmark.
Financial terms of the agreement were undisclosed Wednesday.
Sara Lee is in the process of splitting into two publicly traded companies, which should finish in the first half of next year. One company will be focused on North American meat brands such as Jimmy Dean and Hillshire Farm, and the other on international beverages with brands such as Pickwick and Maison du Cafe. It has been winding down its North American beverage business.
Sara Lee, based in Downers Grove, Ill., owns 45 percent of coffee company Kaffehuset.
The House of Coffee acquisition gives the joint venture better access to the office coffee market, said Kaffehuset Friele CEO Olav Munch in a statement Wednesday.
The deal is expected to close by the end of the year, subject to regulatory approval.