Grupo Bimbo (BIMBOA.MX) is the lead bidder to buy Sara Lee Corp's (SLE.N) North American bread business for about $1 billion, though a deal could be several weeks away, Bloomberg news reported on Tuesday.
Sara Lee, which declined to comment, had said last month it planned to spend more on its North American bakery business and raise some prices as it looks to improve performance in that lagging business.
That announcement to invest in the business had come after some suitors walked away from the bakery auction, sources familiar with the situation previously told Reuters.
Bloomberg reported that some private-equity funds are still looking at the bread business, though Bimbo has emerged as the likeliest buyer.
Bimbo declined to comment.
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