Sara Lee Spins Off Hanesbrands Apparel Unit

Chicago-based food and consumer goods manufacturer/marketer Sara Lee Corp. is officially spinning off a separate, independent, and publicly traded apparel business named Hanesbrands. The transition, originally announced in February 2005, is expected to be completed this summer.

Based in Winston-Salem, NC, Hanesbrands includes apparel lines such as Hanes, Champion, and Playtex. In fiscal 2005, this business generated $4.7 billion in net sales. Kathleen Gilgunn, a spokesperson for Sara Lee, says that once the spin-off is completed, all Sara Lee apparel catalogs and Websites, including One Hanes Place and Just My Size, will fall under Hanesbrands.

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