Sara Lee Corporation, the $13-billion Illinois-based consumer goods conglomerate, agreed to sell its global shoe care business, including the world renowned Kiwi brand, to privately held SC Johnson, for $328 million.
The deal comes after SC Johnson acquired the global household insecticides business of Sara Lee that included brands such as Bloom and Catch for $188 million in June 2010.
- Sara Lee's shoe care business includes the Kiwi brand and Bama International, which sells shoe accessories in Europe and Canada, and a line of cleaning products called Kiwi Kleen that are mainly sold in Asia.
- Wisconsin-based SC Johnson is a 124-year old privately-held, global manufacturer of household cleaning products and products for home storage, air care, and insect control.
- SC Johnson markets brands likes Glade, Pledge, Raid, Baygon, Kabikiller, Ziploc among others.
- Sara Lee sold its European body-care business in 2009 to Unilever for $1.88 billion in cash and parts of its Ambi Pur air freshener business to Procter & Gamble Co for €320 million.
- Sara Lee sold its 51 per cent stake last year in Godrej Sara Lee joint venture to Godrej Consumer Products for $230 million.