FOOD

Sara Lee, Frito-Lay in Joint Venture: Sara Lee Corp. and Frito-Lay Inc. said they are joining forces to develop, manufacture and distribute a new line of single-serve baked goods. Terms of the deal were not disclosed. The products, which will include doughnuts and Danish pastries, will carry the Sara Lee brand name and will be distributed by Frito-Lay. Plano, Tex.-based Frito-Lay is the U.S. snack division of PepsiCo Inc. and the country’s largest snack company. It had sales of more than $5 billion in 1994 on such items as Doritos, Lays, Ruffles, Rold Gold and Tostitos. Sara Lee is an international food and consumer products company based in Chicago.