Sara Lee Acquires 51% of Hungarian Company
Sara Lee Corp. has acquired a majority interest in Compack Trading & Packing Co., the third-largest food company in Hungary.
Sara Lee said the Hungarian government approved its request for a 51% stake in Compack. Sara Lee had acquired a minority stake in Compack, Hungary’s largest coffee roaster, in December of last year.
Compack, with annual sales of about $140 million, also produces teas, spices, rice and household products.
“This is an important partnership in our efforts to expand Sara Lee’s business internationally,” said Sara Lee Chairman John H. Bryan. “Compack provides an excellent platform for exporting coffee and grocery products throughout Eastern Europe.”
Bryan said the joint venture will be managed by Sara Lee’s Netherlands-based subsidiary, Sara Lee/DE.
Sara Lee/DE is the second-largest coffee roaster in Europe, with a 14% share of the retail market.
Sara Lee Corp. markets a wide variety of products worldwide. Brand names besides Sara Lee include Hanes, Champion, Kiwi, Ball Park, Jimmy Dean, Hillshire Farm, Douwe Egberts and Dim.
