US Sara Lee may turn to acquisitions to boost food, coffee ops growth

US consumer goods group Sara Lee Corp may turn to acquisitions in a drive to boost growth of its food and coffee businesses, chief executive Brenda Barnes just announced.

US consumer goods group Sara Lee Corp may turn to acquisitions in a drive to boost growth of its food and coffee businesses, chief executive Brenda Barnes said today.

Sara Lee, targeting at least USD250m (EUR179m) in cost savings within the next two years, can afford a big acquisition, Barnes added.

She, however, did not mention the amount Sara Lee is ready to pay.

The company seeks to boost its core food operations in a move to increase profitability at its bread production division and higher-margin coffee sales.

Currently, the consumer goods group is negotiating to offload its international household and personal care business. The chief executive, however, did not disclose how many investors would be bidding.