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Tupperware eyes Sara Lee acquisition

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Published: Aug. 10, 2005 at 10:03 AM
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ORLANDO, Fla., Aug. 10 (UPI) -- Tupperware Corp. of Florida is close to an agreement to pay $500 million or more for Sara Lee Corp.'s direct-selling operation.

Sara Lee's direct-selling business sells cosmetics, household products, apparel and other products to consumers through a network of independent sales representatives in Mexico, Australia, Philippines, Japan and other countries.

An agreement for Tupperware to pay between $500 million and $600 million could come within days, the Wall Street Journal said Wednesday.

Sara Lee is seeking to transform itself from a consumer-products holding company into a more narrowly focused seller of branded foods like Sara Lee breads, Senseo coffee machines and European household products.

© 2005 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

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