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SARA LEE SELLS OFF TEXTILE OPERATION TO FOCUS ON MARKETING
Published January 6, 1998
IL-based Sara Lee will "sell the bulk of its US yarn and textile operations to privately-owned National Textiles," according to Nikki Tait of the FINANCIAL TIMES. The sale would cover nine of Sara Lee's 13 yarn and textile plants in the U.S. The TIMES estimates the "cashflow benefits to Sara Lee would total about" $600M during the next three years. The textile and yarn operations supply to Sara Lee's knitwear and personal products division, which includes Hanes and Champion (FINANCIAL TIMES, 1/6). In Chicago, Nancy Millman reports the sale is the "first step" in Sara Lee's strategy to become "more of a marketer than a manufacturer" (CHICAGO TRIBUNE, 1/6).