Farmer Bros. (FARM) to Buy Sara Lee's Direct-Store Delivery Coffee Business For $45 Million
More News related to FARM
- Farmer Bros. Reports Net Income Per Share of $0.15 for Fiscal First Quarter 2010
- Farmer Brothers (FARM) Selects MicroStrategy (MSTR) for Greater Insights into Operational Performance
- Farmer Bros. (FARM) to Buy Sara Lee's Direct-Store Delivery Coffee Business For $45 Million
- Matrix USA Rating Changes 9/18
- Matrix USA Rating Changes 5/13
More News related to SLE
- KIWI(R) 'Kicks Up Its Heels' With Cheryl Burke as the Face of Its Spring 2010 Campaign
- Sara Lee Corporation Announces Donation of Nearly Two Million Meals to Feeding America
- CORRECTING and REPLACING This Holiday Season, Gobble up Turkey Lit'l Smokies(R) by Hillshire Farm(R)
- This Holiday Season, Gobble up Turkey Lit'l Smokies(R) by Hillshire Farm(R)
- Sara Lee Corporation Names Teague Chief Information Officer
More News related to Corporate News
- Shares of Brocade (BRCD) Outperforming as Oscar Gruss Upgrades to Buy
- Kinross (KGC) Jumps Higher as Gold Breaks $1,200, JPMorgan Upgrades to Overweight
- Raymond James Upgrades PSS World Medical (PSSI) to Outperform
- Capital One Southcoast Upgrades Penn Virginia (PVA) to Add; Turning Bullish After Data Release
- Raymond James Upgrades CPFL Energia S.A. (CPL) to Outperform
Farmer Bros. Co. (Nasdaq: FARM) announced a definitive agreement to acquire from Sara Lee Corp. (NYSE: SLE) its U.S. direct-store delivery (DSD) Foodservice coffee business.
The $45-million acquisition is expected to nearly double Farmer Bros. revenue, extend its reach to all 48 mainland states and make it the nation's largest direct-store delivery business for coffee and allied products.
"This acquisition will allow us to quickly achieve our long-term goals of coast-to-coast market penetration, cost reductions and margin improvements as a result of economies of scale, and improved returns on our invested capital," said Rocky Laverty, Chief Executive Officer of Farmer Bros. Co. "This is a once-in-a-lifetime opportunity for Farmer Bros.
Subscribe to EasyStockAlerts.com & Get real-time e-mail alerts when news hits your stocks!
Farmer Bros. Co. is an institutional coffee roaster that sells a variety of coffee and allied products to the food service industry and private-label customers such as retailers.
Sara Lee (NYSE: SLE) delights millions of consumers and customers around the world.
Related Categories
Corporate NewsMergers and Acquisitions
Stocks Mentioned
+0.04Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
