November 29/Downers Grove, Ill./PR Newswire -- Sara Lee Corp. has signed an agreement to acquire Cafe Damasco, a coffee business based in the southern region of Brazil. The acquisition price represents a multiple of around one time annual sales. The transaction is expected to close on November 30 and will be filed with the Brazilian competition authorities for review and approval.
With its premium-positioned Damasco brand and several smaller brands, Cafe Damasco has a leading regional position in the southern state of Parana. Total net sales of the Cafe Damasco company in 2009 were close to BRL 100 million (appr. $60 million).