Sara Lee to buy Brazil coffee producer Damasco

Sara Lee Corp., maker of Douwe Egberts coffees, agreed to buy Brazilian coffee producer Café Damasco SA as it seeks to boost sales in the world's second-largest consuming nation.

Downers Grove-based Sara Lee agreed to pay a price equivalent to around one time annual sales for Parana, Brazil-based Café Damasco, according to a statement from the company today. Café Damasco's revenue totaled around 100 million reais ($60 million) last year, Sara Lee said.

Café Damasco is Brazil's seventh-largest coffee roaster, according to the website of Abic, the Brazilian coffee industry association. The transaction is expected to close Nov. 30 and will be filed to Brazilian competition authorities for review and approval, Sara Lee said.

Brazil, also the world's largest producer of the bean, will consume 19.3 million coffee bags this year, up five percent from last year, Abic said. A bag of coffee weighs 60 kilograms (132 pounds). Brazil trails only the U.S. in coffee consumption, according to Abic.