Sara Lee Corporation

1. Title of report: Sara Lee Corporation and Reckitt & Coleman plc (MMC - Cm 2040)

2. Date of report: 17 June 1992 Published: 3 August 1992

3. Orders: N/A

4. Date of original undertakings: 22 October 1992

5. Companies giving undertakings: Sara Lee Corporation

6. Details of undertakings: Divestment undertakings

(i) To dispose within 12 months to a person approved by the Director General of all interests in the Cherry and Cherry Blossom trade marks as listed in a schedule to the undertakings ('the Cherry Blossom Trade Marks').

(ii) Pending such disposal it not to:

(a) reduce the production or supply of the Cherry Blossom products; or reduce the prices at which it supplies or recommends the resale of such products; or take any other action which is likely to diminish the value of the Cherry Blossom Trade Marks, except in the normal course of business; or

(b) reduce the quality of the Cherry Blossom products; or

(c) take any other action which is intended to diminish the value of the Cherry Blossom Trade Marks.

(iii) Following such disposal:

(a) not to hold any interest in the trade marks, or any shares or any interest in shares in any company holding such an interest, or any other interest carrying an entitlement to vote at meetings of such a company;

(b) to procure that no director or employee holds or is nominated to any directorship or managerial position in any undertaking holding an interest in the trade marks;

(c) not to participate in the formulation of the policy of any person with respect to the carrying on of any business relating to the exploitation of the trade marks.

(iv) Nothing in these undertakings shall prevent:

(a) an acquisition of the shares in or the undertaking of any person provided that: (i) the value of any Cherry Blossom Trade Marks thus acquired does not exceed 10 per cent of the value of the assets acquired; (ii) all interests in the Cherry Blossom Trade Marks are disposed within three months to a person approved by the Director General; and (iii) pending such disposal the provisions of these undertakings apply mutatis mutandis; or

(b) any agreement with the consent of the Director General, to manufacture, pack, distribute or market products bearing any of the trade marks.

7. Date of amendments: N/A

8. SIC code: 24.51/2 (Shoe polish)

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