U.S. diversified food company Sara Lee (SLE.N), which controls 22 percent of Brazil's retail coffee market, is in talks to purchase Marata, a local producer of coffee and beverages, a local newspaper said on Wednesday. The Valor Economico financial paper reported sources linked to both companies said Sara Lee was also open to a possible merger. An acquisition or merger would strengthen Sara Lee's foothold in Brazil's fast growing northeastern consumer market. Brazil is the world's second-largest coffee consumer market after the United States, and is the world's largest producer and exporter of the bean. Marata has seven processing plants in the region and a potential deal would be valued at 1 billion reais ($617 million), Valor said. Aside from coffee, the company produces teas and powdered drinks.
Sara Lee Corporation (Sara Lee) is a global manufacturer and marketer of brand-name products for consumers throughout the world focused primarily on the meats, bakery, beverage and household products categories. Shares of SLE remained unchanged at $19.43. In the past year, the shares have traded as low as $13.22 and as high as $20.26. On average, 6914160 shares of SLE exchange hands on a given day and today's volume is recorded at 100.
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