Mumbai: Consolidating its operations in the Indian subcontinent, the US-based Sara Lee Corporation has sold its subsidiary''s business in India and Sri Lanka to its existing partner ship company Godrej Sara Lee(GSLL) for $13 million. GSLL will now be manufacturing, marketing and distributing the brands owned by Sara Lee Household and Body Care like Kiwi Shoe Polish, Kiwi Drainex drain cleaner and Brylcream brand of hair care. The business and operations of Sara Lee Household and Body Care will be transferred to GSLL with effect from July 7.
Sara Lee Corporation has a 51 per cent stake in Godrej Sara Lee while the Godrej Group in which Godrej Industries has a 20 per cent stake holds the balance. Sara Lee is interested on moving all its brands to one company to efficiently manage its portfolio in South Asia. By moving these brands to GSLL, Sara Lee will have access to the Godrej distribution network, as well as the management and marketing support. The Rs 625-crore GSLL was already distributing the Kiwi cleaning range. GSLL have basically bought the three Sara Lee brands for $13 million and this would add to our existing turnover. The Chennai-based Rs 140-crore Sara Lee Household and Body Care was started as a joint venture between Sara Lee Corporation, US, and the TTK group in October 1993.
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