Sara Lee Agrees to Sell Its North American Refrigerated Dough Business to Ralcorp Frozen Bakery Products, Inc. for $545 Million

DOWNERS GROVE, Ill. -- Sara Lee Corp. (NYSE: SLE) announced today it has signed an agreement to sell its North American Refrigerated Dough business to Ralcorp Frozen Bakery Products, Inc., a division of Ralcorp Holdings, Inc. (NYSE: RAH) for $545 million. The transaction is anticipated to close by the end of calendar year 2012.

LasagnequinoaAbout Sara Lee CorporationAbout Ralcorp Holdings, Inc.Just a few brands of the 6 slice toaster oven are: Black and Decker, Oster, Hamilton Beach, and Euro-ProIt is a very versatile kitchen appliance. Some have a unique separate warming compartment.Sara Lee’s North American Refrigerated Dough business employs approximately 700 people and includes manufacturing facilities in Forest Park, Ga. and Carrollton, Tex. The business generated revenues in excess of $300 million in fiscal 2010.

Ralcorp produces Post branded cereals, a variety of value brand and store brand foods sold under the individual labels of various grocery, mass merchandise and drugstore retailers, and frozen bakery products sold to in-store bakeries, restaurants and other foodservice customers. Ralcorp's diversified product mix includes: ready-to-eat and hot cereals; nutritional and cereal bars; snack mixes, corn-based chips and extruded corn snack products; crackers and cookies; snack nuts; chocolate candy; salad dressings; mayonnaise; peanut butter; jams and jellies; syrups; sauces; frozen griddle products including pancakes, waffles, and French toast; frozen biscuits and other frozen pre-baked products such as breads and muffins; frozen dough; and dry pasta. For more information about Ralcorp, visit the Company's website at www.ralcorp.com.