Sara Lee bakery in settlement talks with FDA, DOJ
Date: 27-Sep-02
Country: USA
Sara Lee, the maker of Jimmy Dean meats and Hanes underwear, said in an annual report filed with the Securities and Exchange Commission that it is in settlement talks with both government agencies over Earthgrains' handling of ozone-depleting substances.
"The EPA has referred the results of its investigation to the Department of Justice, and Sara Lee, the EPA and the DOJ currently are engaged in settlement discussions regarding this matter," Chicago-based Sara Lee said. It added that a settlement is unlikely to have any material impact.
In June 2000, Earthgrains began discussions over compliance with the EPA.
Sara Lee purchased the No. 2 U.S. bakery in August 2001 in a deal valued at about $2.8 billion in cash and debt. Earthgrains was merged into Sara Lee's existing bakery business to form the Sara Lee Bakery Group.
