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Sara Lee's Restructuring to be Complete by May



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    CHICAGO - NOVEMBER 09: Sara Lee bread is offered for sale at the Cermak Fresh Market grocery store in the Little Village neighborhood on November 9, 2010 in Chicago, Illinois. Today it was announced that Groupo Bimbo would purchase Sara Lee's North American Fresh Bakery business for $959 million. (Photo by Scott Olson/Getty Images)

    Groupon isn't the only local company looking to court future investors. Downers Grove-based Sara Lee announced at an event in Amsterdam, Netherlands on Monday that it's making "good progress" to spin off its international coffee and tea business, and the split will be complete by May next year at the absolute latest.

    If you haven't been following the frozen and packaged goods beat, earlier this year the company was split in two. There won't be any changes as far as consumers would know: North American operations will remain Sara Lee, but its other functions like beverages and bakeries will become something else internationally.

    Sara Lee CEO Marcel Spits told Bloomberg this restructuring is to "unlock value for our shareholders... I don't want them to buy the stock anymore because they think we have another finance restructuring trick up our sleeve... I want investors to... believe in the companies that we are creating."

    You can read more about these changes over at the Daily Herald.