Jun 28 2006

Sara Lee Spinoff

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HanesBrands Inc. Spins Off From Sara Lee Corporation

The Winston Salem, NC Hanes Branded Apparel division of Sara Lee Corp. took the name HanesBrands, Inc. when it spun off from its parent company in September 2006. Sara Lee Branded Apparel achieved over $6.4 billion in sales in 2005, with nearly $1.2 billion of those coming from its Europe organization (sold to a private firm - see below), which includes branded businesses in Germany, Italy, France, the United Kingdom, Span, and throughout Eastern Europe. The new HanesBrands Inc. name, logo, and corporate idendity were developed by Landor Associates, San Francisco. Sara Lee Corporation will continue to focus on its food, beverage, household, and body care businesses.

HanesBrands Includes the World's Top Branded Apparel Brands

Sara Lee Branded Apparel brands include top names such as Bali, Champion, Hanes, DIM, Just My Size, Hanes Her Way, L'eggs, Playtex, Wonderbra, and Barely There. HanesBrands also makes legwear under licenses from Donna Karen and DKNY (Donna Karen New York). HanesBrands bras are #1 in the United States, and underwear, legwear, and activewear units are also market leaders. HanesBrands products are sold worldwide, the US accounting for approximately 70% of sales.

Business Not Included in the Spinoff

Sara Lee Sells European Branded Apparel Business

Sara Lee Corporation sold its European Branded Apparel business in January 2006 to Chicago-based Sun Capital Partners for 100 million euros in cash (approximately $120 million dollars at time of this writing), plus contingent payments based on future performance.

Sara Lee Courtalds Not Part of Sale

United Kingdom based division Sara Lee Courtalds, which makes private-label clothing for retailers and generated over half a billion in sales in 2005, was not part of the sale.

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